An E&Y report providing investors and entreprneurs with useful information and tips about doing business in Bulgaria.
Bulgaria is a parliamentary republic headed by a President. The legal system of the Republic of Bulgaria is structured under the supremacy of the Constitution, adopted in July 1991.
The President is directly elected fora term of five years and can head the Republic for a maximum of two terms. The President emanates the unity of the nation and represents the Republicof Bulgaria in its international relations. Among his powers are ratification of certain diplomatic and military agreements and promulgation of laws,command of the armed forces, etc. The current President Georgi Parvanov, who was elected in November 2001 and then re-elected in November 2006, became the first re-elected president in the newest Bulgarian history. Supreme legislative power rests with the unicameral 240-seat National Assembly, which is directly elected for four years on the basis of proportional representation. The last parliamentary elections were held on 5 July 2009. Twenty parties and coalitions took part in the elections. Six political forces passed the 4% barrier:
- “Citizens for European Development ofBulgaria” coalition won 39.72% of thevotes.
- “Coalition for Bulgaria” won 17.70% ofthe votes.
- “Movement for Rights and Freedom”coalition won 14.45% of the votes.
- “Attack” coalition won 9.36% of thevotes
- “Blue Coalition” won 6.76% of thevotes.
- “Order, Lawfulness, Justice” coalitionwon 4.13% of the votes.
The new centre-right government invited several established Bulgarian professionals from abroad to take on leading roles in the government, which was warmly greeted by the EU as a step towards higher political confidence and transparency.
On the international scene, Bulgaria also had a huge achievement in the election of Irina Bokova as Director-General of UNESCO. That achievement was followed by the successful nomination of Kristalina Georgieva, a former Vice President and Corporate Secretary in the World Bank, for European commissioner of Bulgaria.
The Council of Ministers is the executive state body, which directs both Bulgarian domestic and international policy inBulgaria. The government manages the implementation of the state budget,organises the management of state property and approves certain types of international treaties mentioned in the Constitution.
Bulgaria is represented by 17 members in the European Parliament, which were elected in June 2009. “Citizens for European Development” of Bulgaria won five seats, “Coalition for Bulgaria” won four seats, “Movement for Rights and Freedom” won three seats, “Attack” and “National Movement for Stability and Progress” both won two seats and “Blue Coalition” won one seat.