"Scientific research" Almanac

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  REASONS FOR THE CHANGES IN THE VOLUME AND QUALITY OF INDIVIDUAL CUSTOMERS' LOANS PROVIDED BY COMMERCIAL BANKS IN BULGARIA

  The high credit activities of commercial banks in Bulgaria as regards citizens and households just before the consequences of the global economic crisis, as well as the efforts of local people to maintain a quality standard of living, are the main reasons which increase the burden of individual customers’ loans in the loan portfolio of bank ... The high credit activities of commercial banks in Bulgaria as regards citizens and households just before the consequences of the global economic crisis, as well as the efforts of local people to maintain a quality standard of living, are the main reasons which increase the burden of individual customers’ loans in the loan portfolio of bank institutions. The worsening of economic indicators in the country after the beginning of 2009 forces the banking institutions to change their behaviour on the credit market and to seek effective ways to limit the ever increasing non-performing loans among the population. The purpose of the current study is to trace the tendencies in the change of volume and quality of the banks’ overall consumer loan portfolio for the period December 2006 – June 2012, and to outline the main reasons of the worsened quality of loans extended to individuals for current needs by the local commercial banks.

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  MANAGING THE STATE DEBT OF BULGARIA – ISSUES AND CHALLENGES

  Satisfying the public interest in terms of public goods and services has its lim¬its – the resource limitedness in the provision of public goods and services. Since the needs of society and individuals always exceed the available economic resources for their implementation, this necessitates the use of debt and deficit financing tools. This is ... Satisfying the public interest in terms of public goods and services has its lim¬its – the resource limitedness in the provision of public goods and services. Since the needs of society and individuals always exceed the available economic resources for their implementation, this necessitates the use of debt and deficit financing tools. This is particularly true for the state as an economic entity. Moreover, debt financing could be used for the formation and implementation of policies going far beyond the purely economic objectives of any government. Economic theory has already proved that the public debt, its quantity and management processes have an impact on the economic development of the country, consumption, savings and investments. Extending the debt crisis and the cataclysms in financial markets demonstrate the illusory idea of the adequacy of national economies in the management of public debt in the long term. It is objectively necessary to apply established measures as well as to approve new ones. The systematic approach for determining the multifaceted nature of public debt management has an important role in the area of analysis.

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  FREE ZONES AS A TOOL OF STATE ECONOMIC REGULATION

  Free zones emerge at a certain stage in the development of national economy as a new form of interaction in foreign trade and foreign economic relations of a country. Duty free zones are one of the most common types of free zones. The balanced achievement of a variety of goals by creating free zones leads to the conclusion that they can also be a ... Free zones emerge at a certain stage in the development of national economy as a new form of interaction in foreign trade and foreign economic relations of a country. Duty free zones are one of the most common types of free zones. The balanced achievement of a variety of goals by creating free zones leads to the conclusion that they can also be a tool of state economic regulation. Although there are almost all conditions for the development of free zones in Bulgaria, their activities, and hence their importance for our country, are on the decrease. The question arising is how to change that. The following trends in the development of free zones in Bulgaria can be outlined as very important: changing the regulatory requirements for tenants concerning the technological level and type of productions carried out in the free zones; tax incentives for investors; turning the free zones into industrial sites which use new technologies; using the regime approach in creating free zones in Bulgaria; authorizing a state agency to organize, coordinate and monitor the activities of the free zones in the country; and setting priority objectives in the operation of the free zones. This will provide opportunities for identifying the exact location and role of free zones and will make them an effective tool for state economic regulation.