Acrimony and contradictory claims about the deal that enabled the freeing of the Bulgarian medics from Libya have emerged in the days since their homecoming.

In one of the newest twist, Muammar Gaddaffi’s son Seif al-Islam was quoted on August 1 as telling a French newspaper that the trade-offs included the transfer to Libya of a former Libyan secret service agent convicted of the 1988 terrorist bombing of a jumbo jet over the Scottish town of Lockerbie. Al-Islam said the deal also include the supply of French arms to Libya. Neither of these supposed trade-offs was mentioned in official accounts of the deal.

A few days after the medics were released, the families of the children in Libya that the medics were convicted of deliberately infecting with HIV expressed outrage at President Georgi Purvanov having pardoned the medics instead of them serving out their life sentences in Bulgaria. The Libyan government joined in the statements of outrage, and attempted to get the Arab League on board in diplomatically isolating Bulgaria. But beyond a supportive statement, the league made no specific move.

Bulgarian Government officials responded that the presidential pardon was within the law, and rejected Libyan allegations of having reneged on the terms that opened the way for the medics to come home.

Foreign Minister Ivailo Kalfin responded to the allegations that Bulgaria had violated the prisoner exchange agreement with little more than a statement to the effect that for Bulgaria, the case had ended – and had ended successfully.

In an earlier interview, Al-Islam said that statements by Libyan officials that they were “surprised” by the pardon given to the medics in turn surprised him. “It was obvious from the beginning that the Bulgarians were going to pardon the medics,” he said.

There were also contradictory statements about which country had contributed towards the financial settlement given to the families of the HIV-positive children. Notably, Libya denied claims that it was among contributors.

For many, the important statements were those that emerged as the medics themselves had their truths to tell, for the first time having clear opportunities to detail the harrowing tortures and abuse that they had endured in detention in Libya. Medical examinations have found them to be suffering severe psychological stress.

Source: Sofia Echo

Bulgarian trade deficit reached 6.06 billion leva in the end of May 2007, compared to 4.34 billion for the same period of 2006, says a National Statistical Institute survey (NSI).

The increase on an annual base is 39.6 per cent, investor.bg reported.

In May alone, the total trade deficit was 1.34 billion leva, the highest registered value since the beginning of 2007.

Exports reached 9.71 billion leva, a 6.7 per cent growth on annual base. Imports grew to 15.76 billion leva, compared to 13.44 billion leva a year ago. This is an increase of 17.3 per cent.

Trade balance for the first five months of 2007 is negative, with a total of 5.22 billion leva.

EU countries hold the leading position in Bulgaria's foreign trade, with 62.7 per cent coming from the country's exports and 60.2 per cent from imports.

Total exports to non-EU countries in the end of May were 3.62 billion leva, and imported goods from non-EU countries totaled 6.28 billion leva.

Source: Sofia Echo

A growing number of foreign investors are entering the Bulgarian property market.

In addition to investors from the UK and Ireland, many Russians, Scandinavians, Austrians and Americans are also showing interest in the Bulgarian market, investor.bg reported.

Market growth is expected to slow in response to increasing demand and competition in the sector over the past few years.

The high annual growth rates of 20 per cent seen in recent years are finished.

This is a common process for all markets, UK broker agency Off Plan International sales director Simon Walker said.

Walker said that property seekers should focus on long-term plans for a five- to ten-year period to increase their investment returns.

It is also important for investors to make thorough market research before they invest in property in Bulgaria.

Holiday property is highly profitable only three or four months per year, a fact that investors should keep mind when investing in the Bulgarian property market, Walker said.

Investing in property in towns and cities, especially Sofia, is less risky, he said.

Resorts like Sunny Beach and Bansko are already nearing the point of over-development, and property prices will soon decrease.

Source: Sofia Echo

Sale prices for land plots facing the western motorway exit out of Veliko Tarnovo has reached 60 euro per sq m, Dnevnik Daily reports. The area is shaping up as the city's new industrial zone and is gaining popularity among investors.

Couple of years ago, plot prices in the same area barely reached 20 euro per sq m, local realtors said.

Most of the listed lots are from the land areas of the nearby villages Ledenik and Beliaskovets, Dnevnik Daily reported.

As it turns out there are quite a few buyers ready to pay 50,000 euro for a 0.1 ha lot of arable land and undertake to have its status changed..

Source: Propertywise Bulgaria

The market in village property, until recently driven by interest among Irish and UK investors, is gaining popularity among Bulgarians.

Instead of investing their money in holiday property at the seaside or in mountain resorts, many Bulgarians prefer to buy houses in villages so that they could use them as villas at weekends, Kapital weekly reported.

Others are even ready to live in a village and commute to work.

The main factor influencing purchases is the nearness of a property to a big town. Although most Bulgarians prefer to have a house near their city, they are increasingly focusing their interest on property at distance more than 20km out of town.

Simeonovo and Dragalevtsi, formerly outlying villages, have become part of Sofia. Property prices in certain villages near Sofia, including Pancharevo and Kokalyane, have already become too high.

Buyers are starting to look at houses 40 km northeast of Sofia, focusing mainly on the villages of Kostinbrod, Slivnitsa and Novi Iskar.

The same trend has been seen in the regions of Veliko Turnovo and Rousse.

Source; Sofia Echo

A growing number of foreign investors are entering the Bulgarian property market.

In addition to investors from the UK and Ireland, many Russians, Scandinavians, Austrians and Americans are also showing interest in the Bulgarian market, investor.bg reported.

Market growth is expected to slow in response to increasing demand and competition in the sector over the past few years.

The high annual growth rates of 20 per cent seen in recent years are finished.

This is a common process for all markets, UK broker agency Off Plan International sales director Simon Walker said.

Walker said that property seekers should focus on long-term plans for a five- to ten-year period to increase their investment returns.

It is also important for investors to make thorough market research before they invest in property in Bulgaria.

Holiday property is highly profitable only three or four months per year, a fact that investors should keep mind when investing in the Bulgarian property market, Walker said.

Investing in property in towns and cities, especially Sofia, is less risky, he said.

Resorts like Sunny Beach and Bansko are already nearing the point of over-development, and property prices will soon decrease.

Source: Sofia Echo

One quarter of adults in Bulgaria own farmland, but about one third do not use it, a BBSS Gallup International found in a nationally representative opinion poll conducted among 1 010 adults in 115 Bulgarian settlements in July 2007.

The results of the poll were disclosed in "24 Chassa" daily on August 8.

The average amount of land owned is 1 hectare.

Half of the land owners reside in rural areas, and the other half live mainly in small towns or regional capitals.
One in ten landowners resides in Sofia.

Rural residents make up about 30 per cent of Bulgaria's total population, according to Bulgarian news agency BTA.

Three quarters of those who own farmland are over 50 years of age. Two in three are pensioners or unemployed, and one tenth are self-employed.

One in two of the farm-landowners lease their property for rent in cash or in kind, and one in four farms it either personally or with the help of family members.

Less than 10 per cent of farmland owners are interested and willing to register for EU farm subsidies.

In rural areas, most landowners are over the age of 60, and about 24 per cent do not use their property. Urban residents, aged 40 to 50 and working in small business and the public sector, are more active in cultivating their land as an second source of income.

Just 2 per cent of the Roma own farm land, far less than the rest of the ethnic groups.

In terms of plans for the future, the largest segment of those polled, 31 per cent, plan to lease their land to earn extra income, 19 per cent will farm it, 17 per cent will transfer it to their heirs, 14 per cent will do nothing, and 11 per cent are undecided.

About 8 per cent are planning to sell their property. This segment mostly resides in Sofia.

Source: Sofia Echo

Germany's Lufthansa Technique made a proposal to Bulgaria's Hemus Air for a joint venture for the repair of aircrafts, Lufthansa regional manager for Bulgaria, said on Friday.

The investment amounts EUR 20 M the documents for which will be signed on August 16. Lufthansa will own 80% of the venture.

In the beginning the repairs centre will work only on Boeing 737s, but Hemus Air CEO Dimitar Pavlov said he hopes the project will be extended to cover the repairs of Boeing 777s and Airbus A340.

The first repairs will start in the end of 2008 and will be carried out at Sofia Airport.

Lufthansa is the most active foreign air carrier in Bulgaria, with record traffic of 160,000 passengers to Bulgaria in 2003. That is 11 % more than the previous year, Dieter Grosse stated.

Source: Novivite

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