Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Sparks flying between business and government

БНР Новини
Photo: BGNES

Since the beginning of the new political season in September, the state has taken a real offensive against representatives of Bulgarian business suspected and accused of money laundering, tax evasion, embezzlement of EU funds, forged public procurements, smuggling, illegal production of alcohol and cigarettes, etc.

The first target became one of the largest hoteliers in Bulgaria, Vetko Arabadzhiev, his family and his partners. The very fact that more than 5 million euros of unknown origin in cash have been found during searches in some of his hotels in the country is suspicious enough. While the authorities were investigating alleged crimes, the hotelier and his wife remained quiet in their villa on the Cote d'Azur in France. It is not known where they are at the moment, but they are not in Bulgaria. According to investigators, the Arabadzhievs are involved in illegal business activities and the money found in their offices was not earned in an honest way.

After the hotel industry, authorities targeted alcohol production business. The owner of the second largest distillery in this country in the town of Karnobat, Minyo Staykov was detained and his factory for the production of concentrated alcoholic beverages and wines was thoroughly searched in order to find evidence of illegal production and evasion of taxes. One of the most prominent Bulgarian businesswomen, Petya Slavova, was luckier with a "routine" customs inspection of her wine cellar "Black Sea Gold".

The scandal between one of the largest construction companies in Bulgaria - GP Group and Prime Minister Boyko Borissov is also part of the list of law enforcement actions, as after media articles about embezzlement of EU funds were published, the PM ordered the company removed from the implementation of all projects funded by Brussels.

All of these actions by the authorities against alleged illegal practices of the big business in this country indicate that there are problems in relations between business and authorities. It is not yet clear what they are, who and why is causing them, or if crimes were actually committed. It is clear, however, that the tightening of measures against the gray economy, corruption, and frauds has good effects on the government’s image at the moment. In Bulgaria no one loves the rich, as the opinion that their wealth was not accumulated in an honest way prevails. From this point of view, the government rating must definitely rise. It is a different topic that such scandals, accusations, arrests, searches, etc. occurred in the past, but to this day there have been no real big businessmen convicted. It is no coincidence that Brussels considers one of the weakest spots in Bulgaria to be justice, which cannot be relied upon to solve complicated cases and to judge in accordance with the law. Bulgaria needs a fair, open, law-abiding business, but business also needs stability and respect on the part of the authorities.

English: Alexander Markov


Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

President of Vienna Chamber of Commerce and Industry: Bulgaria’s full membership of Schengen will accelerate business relations with Austria

Bulgaria and Romania will be fully admitted to the Schengen area, said Walter Ruck, President of the Vienna Chamber of Commerce and Industry said during a meeting with Bulgarian Vice President Iliana Iotova in Vienna. Austrian businesses have always..

published on 12/5/24 12:12 PM

BNB discusses eurozone accession with EU ambassadors in Sofia

Bulgarian National Bank (BNB) Governor Dimitar Radev has met with EU ambassadors and discussed the country's upcoming accession to the eurozone , the BNB announced. The meeting was held in Sofia at the invitation of Hungarian..

published on 12/4/24 9:41 AM
Tsvetan Simeonov

The business wants political stability with a working government and parliament

With a growth of 2.2 percent, Bulgaria is among the top 6 countries in the EU, Caretaker Minister of Economy Petko Nikolov reported during the ceremony of presenting the annual awards of the Bulgarian Chamber of Commerce and Industry..

published on 12/4/24 9:03 AM