On April 2 and 3 the lobby of the Ruse Central Railway Station is transformed into impressive fashion scene. The choice of this iconic location was not accidental – it perfectly resonates with RFW's core philosophy of promoting sustainable fashion and a responsible attitude towards nature, given the ecological nature of rail transport.

This year Ruse Fashion Week took a significant step forward, deploying its large-scale international character. The latest spring-summer collections of nineteen fashion designers and brands from two continents were presented to the Ruse audience. Along with prominent Bulgarian artists, the fashion shows also featured international names such as AladinosFashion (Italy), SABINNE (Romania), Guy-David Lambrechts (Belgium), EMELYA and Büşra Canay (Turkey), as well as DE JIN ZHOU JIN (China). Native fashion was worthily represented by Atelier Banderol, Benmodel, Galidona Fashion Atelier, Danini, Dessa Thea Brenjens, Ivan Donev, Ignis, Lowky Broken, Miss Queen, Fashion with a Mission (Bardaro and Cantarelli), Mona Grace, Tasvira and the beloved Ruse brand Rossi.

„"We have invited designers and brands that focus on quality, durability and emotional value of products, use mainly natural materials or those that can be easily recycled, and have responsible management of unsold products. Our goal is to present these sustainable collections to a wide audience, while also encouraging consumers to make more responsible choices when purchasing clothing," said Silvia Kabaivanova, organizer of Ruse Fashion Week.

The audience also had the pleasure of seeing special contemporary interpretations of authentic Ruse outfits from the beginning of the last century, created by designer Daniela Georgieva (Art Boutique DANA VITAN).

One of the most solemn and emotional moments during the fashion evenings was the special awards ceremony.. Mr. Milen Dobrev, in his capacity as Executive Director of RCCI and Vice President of the Bulgarian Fashion Association (BFA), took the stage to present one of the BFA's special statuettes for support and contribution to sustainable fashion. The award was given to the creator of the iconic Ruse brand Rossi – a brand that continues to be a benchmark for elegance and high quality.

The Fashion Week in Ruse was also accompanied by a number of important educational initiatives, including: creative workshop for young people on the topic "The Beauty of Ruse" and a specialized workshop CreativeLab for starting designers at the Nedka Ivan Lazarova PGO, led by top designer Ivan Donev.

The Ruse Chamber of Commerce and Industry expresses its gratitude to the organizers, to all partners and participants who joined forces to turn Ruse Fashion Week 2026 into a true celebration of style and sustainable development. We look forward to the next edition!

The main goal of the concept is to reduce the deepening territorial imbalances and create conditions for economic growth in all parts of the country. After a detailed discussion of several alternatives for new zoning, the following was chosen: Option 1 – a decision that RTIK actively supported as the most successful and promising for the future of the Danube region and the national economy.

Why is Option 1 the best choice?

Our support for this option is based on five strategic pillars that ensure sustainability and effectiveness:

• Economic and social logic: This model takes into account real economic profiles, infrastructure and natural resources. This allows for targeted investments – from sustainable agriculture in the North to industrial projects in the South and blue economy in the East.
• Demographic sustainability: Option 1 meets the strict EU criteria (Regulation No. 1059/2003). NSI forecasts indicate that with this distribution, the regions will maintain a population above the critical threshold of 800,000 people even after 2090.
• Improved connectivity: The new zoning places emphasis on the TEN-T transport corridors. For Ruse, as a key transport hub on the Danube, this means better connections with neighboring countries and accelerated development of the Danube area.
• International cooperation: The separation of the Northern and Eastern regions facilitates our integration into cross-border initiatives such as the Danube Strategy and the Black Sea Synergy.
• Effective resource management: The consolidation will lead to a reduction in the administrative burden and better coordination of financial flows from European funds.

A look to the future

While the other options considered (Option 2 and Option 3) carried risks of maintaining the status quo or inefficient allocation of resources, Option 1 offers real modernization.

RTIK believes that by adopting this model, also enshrined in the MRDPW concept until 2040, Bulgaria is taking a decisive step towards overcoming the differences between the regions. We remain committed to working to transform Ruse and the Northern region into an engine of economic prosperity.

For additional information, read the full publication of the MRDPW here:

Visible benefits: No fees and no currency risk

The initial positives of joining the Eurozone are entirely practical and financial in nature. They act as a „lubricant“ for the economy, removing unnecessary friction from day one:

• Savings from currency conversion: Bulgarian companies (especially importers and exporters) and citizens no longer lose from banks' "buy/sell" exchange rate differences in transactions to and from Europe. This keeps hundreds of millions of euros annually in the domestic economy.
• Boost for tourism: Eliminating the need for currency exchange makes our country more accessible and attractive to European tourists, eliminating the risk of poor exchange rates and facilitating the business of hoteliers and restaurateurs.
• Increased credit rating: Eliminating currency risk automatically raises the country's rating. This means more profitable financing for the country on international markets and indirectly better conditions for business.
• Price transparency: Consumers can now directly compare prices in our country with those in other European countries, which creates natural pressure on retailers against unjustified markups.

New liquidity resource for the banking sector: 7.5 billion comes to light

The real financial driver of our integration, however, lies in a more technical but fundamental change – the drastic reduction in banks' minimum reserve requirements (MRR).

Until our entry into the Eurozone, the Bulgarian National Bank (BNB) maintained some of the highest MRO levels in Europe – 12% to the deposit base, as a strict anti-inflationary measure in a currency board arrangement. With accession to the European Central Bank (ECB), this requirement falls to the standard for the Union 1%.

For a banking system with a huge deposit base like ours, this difference of 11 percentage points means "unlocking" financial resources from about 7.5 billion euros, which until now were blocked in the vaults of our central bank.

What does this liquidity mean for the real economy?

The release of these funds acts as a powerful financial injection without the state taking on new external debt. This is felt in several ways:

• More accessible lending: Banks now have a huge free resource that they need to put to work. Increased competition for its placement has traditionally kept loan interest rates lower and encouraged more flexible terms for businesses and households.
• Eliminating the "hidden tax" on banks: Previously, the funds blocked were not profitable, which acted as a burden on banks. They often compensated for this loss by charging higher fees to customers. Eliminating this cost makes the banking sector more efficient and reduces the pressure on consumers.
• Investment incentive: Directing this massive capital to the real economy – for new factories, innovations, and infrastructure – is a direct prerequisite for tangible growth in Gross Domestic Product.

The balance and risks

The only serious risk to this optimistic scenario is the potential inflationary pressure. If the freed billions are poured too sharply into the economy in the form of mass consumer loans alone, this could lead to the market overheating and rising prices.

Analysts expect, however, that financial institutions in our country will take a conservative approach. Some of this money will likely be invested in government securities or other low-risk assets, which will cushion the inflationary blow while ensuring stability.

Adopting the euro is not a magic wand for instant wealth. However, by removing financial barriers and infusing fresh capital through reduced bank reserves, the new currency gives the Bulgarian economy a historic chance for accelerated and competitive growth within the European family.

Here were the main difficulties on the road to the new currency that businesses and consumers in Bulgaria faced.

Business Challenges: Liquidity, Software, and Fines

For traders and entrepreneurs, the first month of the year turned out to be a real stress test. The main stumbling blocks included:

• The logistics of dual circulation: The greatest initial burden for retailers was the obligation to accept payments in levs while giving change primarily in euros. This created serious liquidity challenges and led to temporary local shortages of small euro banknotes (10 and 20 euros) and coins, especially in smaller retail outlets.
• Strict control and administrative sanctions: Increased inspections by the National Revenue Agency and the Consumer Protection Commission (CPC) for unjustified price rounding and failure to comply with dual price display rules caused additional tension. By the end of January alone, sanctions totaling nearly 400,000 euros had been imposed for identified violations.
• Accounting and IT adaptation: Companies had to urgently reconfigure their ERP systems, cash registers and accounting software. The submission of tax declarations for periods ending after January 1, 2026 now requires reporting entirely in euros, necessitating intensive training for financial departments.
• Re-registration of the authorized capital: All companies have until December 31, 2026 to update their articles of association and convert their share capital from levs into euros in the Commercial Register. Although no state fees are due for this process, it requires administrative time, and failure to comply carries the risk of fines and the blocking of future corporate changes.

Difficulties for citizens: Queues, counterfeits and "hidden" inflation

For the average consumer, parting with the lev did not pass without disruption.

• Queues for cash exchange: By the end of January, around 25% of lev banknotes and coins were still in circulation. Since stores no longer accept them as of February 1, citizens had to exchange them physically at banks or at Bulgarian Posts. This led to queues and inconvenience at service counters, especially given the limits – post offices do not exchange more than 10,000 BGN per person per day, while amounts exceeding 30,000 BGN at banks require prior notice of three to five days.
• Psychological barrier and "hidden" inflation: Despite the fixed exchange rate of 1 EUR = 1.95583 BGN, many consumers are having difficulty quickly navigating the new nominal price levels. Fears of speculative price hikes led to a peak in consumer complaints in the first weeks of the year.
• Risk of fraud and counterfeit money: The appearance of the unknown physical currency in wallets has led to an increase in attempts to smuggle counterfeit euro banknotes. As early as January, the Ministry of Interior opened dozens of pre-trial proceedings in such cases.
• Information confusion among vulnerable groups: Elderly citizens and residents of more remote areas faced the greatest difficulties in understanding the deadlines. A significant number of people mistakenly believed that the period during which they could pay in levs in stores would last six months rather than just one.

Light at the end of the tunnel

Despite initial setbacks, data from mid-February show a clear trend towards easing. Tensions are visibly easing, complaints are falling significantly, and the foreign trade sector is already feeling the real benefits of the elimination of currency risk and bank conversion fees. The transition is nearing its end, and the economy is starting to operate under the new European rules.

Economic Development Above the National Average

According to the report, Ruse District is rated "Good" in the economic development indicator - just below the highest group "Very Good", which includes Sofia (capital), Plovdiv, Varna, Burgas and Gabrovo. This positions the region among the more economically developed districts in Bulgaria.

The share of export revenues in the total revenues of enterprises is particularly impressive – 48%, which almost puts the area on par with the leading export regions (Sofia (region) – 52%). This high degree of export orientation is an indicator of a competitive industry integrated into international markets.

"Export is the strategic driver of the Ruse economy - this confirms the strength of our manufacturing enterprises and their ability to compete on a global level," commented the Ruse Chamber of Commerce and Industry.

Active Labor Market and High Employment

The region is also distinguished by a high share of employed people in the 20–64 age group – 81.1% in 2024., compared to 76,8% average for the country. This testifies to the presence of a dynamic business environment and real opportunities for employment.

However:

• Incomes and living standards remain below the national average.
• GDP per capita: 21,678 BGN (national average: 28,733 BGN)
• Average annual gross salary: 19,662 BGN (national average: 24,485 BGN)
  This is also the main reason why Ruse is in "Good" and not "Very Good".

Corporate Activity and Human Capital

The good economic performance is complemented by high corporate activity and an orientation towards industrial production. Strong traditions in mechanical engineering, logistics and the technology sector continue to bring stability to the local economy.

At the same time, the district is characterized by a relatively favorable educational structure of the population, and Angel Kanchev University of Ruse plays an important role in maintaining a skilled workforce and implementing innovations.

Ruse as The Economic Core of The Region

Around 90% of the population and 94% from employees in the district are concentrated in the municipality of Ruse. This clearly outlines the city as a regional economic core with well-developed infrastructure, strategic geographical location and access to European transport corridors.

The combination of industrial capacity, workforce, and logistical accessibility makes Ruse a natural center of Northern Bulgaria along the Danube.

Opportunities and Priorities for Future Development

Ruse already has a good economic foundation, but in order to become one of Bulgaria's leading regional centers, it needs to be upgraded in several key areas:

1) Industrial Development and Export Diversification

• Promoting high-tech and green production with higher added value.
• Modernization of industrial and logistics zones.
• More active participation of Ruse enterprises in international supply chains.

2) Infrastructure and Cross-Border Connectivity

• The strategic location of the city is a key advantage that should be used to the maximum.
• The share of first-class roads and the quality of the pavement in the district are above the national average, which further supports business connectivity.
• The main priority is the accelerated implementation of the second bridge over the Danube at Ruse–Giurgevo, as well as the modernization of rail and road connections to Varna, Sofia and Bucharest.
• These projects will turn Ruse into a real intermodal hub of Northern Bulgaria, opening new opportunities for investment, logistics and tourism.

3) Human Capital and The Relationship Between Education and Business

• Strengthening the connection between educational institutions and industry.
• Expansion of dual programs, engineering and IT specializations.
• Incentives to retain young staff in the region for stable human potential.

Key Takeaways

Ruse District has all the prerequisites to become a leading industrial, logistics and innovation center of Northern Bulgaria and the Danube region. The combination of a strong export profile, strategic location, developed human capital and a favorable educational environment creates a basis for accelerated economic growth.

The Ruse Chamber of Commerce and Industry will continue to work actively to implement these priorities - through support for local business, development of public-private partnerships and attraction of investments. Challenges remain the increase in productivity and the shortage of specific skills in the industry (mechatronics, automation, ICT), which requires targeted training programs, attraction of specialists and closer business-education partnership.

The goal is clear: Ruse to take its deserved place among the leading economic regions of Bulgaria - a region of growth, innovation and high quality of life.

Source: Institute for Market Economics, „Regional Profiles: Development Indicators – 2025“, regionalprofiles.bg

The dynamically changing situation related to the corona virus requires strict measures to protect public health and protect citizens from the direct physical threat of COVID-19. In order to overcome possible difficulties in the declaration and payment of taxes and social security contributions, as a result of the emergency measures introduced, the National Assembly adopted changes related to the tax and insurance requirements during the period of emergency:

1. Extension of the deadline for submitting corporate tax returns (Art. 92 ZKPO) until June 30, 2020

2. Extension of the deadline for paying the corporate tax due on the annual declaration (Art. 93 ZKPO) until June 30, 2020

3. In 2020, persons obligated under the ZKPO make advance payments on a basis the estimated taxable profit for 2020., taking into account the following features:

in the event that the annual tax return for 2019 has already been submitted, adjustments to the amount of advance payments until 15.04 and thereafter are made with the return under Art. 88 of the ZKPO;
in case the annual tax return for 2019 has not been submitted by 15.04, it must be submitted by that date, filling in only the part of it in which the advance payments for 2020 are declared. Adjustments to the amount of advance payments are do with the declaration under Art. 88 of the ZKPO;
the adjustments to the advance payments made with the declaration under Art. 88 of the Civil Code, are used after submission of the declaration.

See details on declaring and paying the advance payments under ZKPO

The mentioned regulations are related to the fact that the deadline for making the monthly advance payments for the months of January, February, March and April and the quarterly advance payment for the first quarter is until April 15, and the deadline for submitting the annual tax return for 2019. , which declares the type and amount of advance payments for the current year, is until June 30, 2020. 

The deadlines for making advance payments for 2020 are as follows:

Monthly advances for the first quarter (January, February and March) of 2020 are due by April 15, 2020 y., and for the months from April to December within a period of 15 number of the month to which they refer. Quarterly advances for the first and second quarters of 2020 are due to 15th of the month following the quarter, respectively April 15 and July 15, 2020 y., and for the third quarter - within a period of December 15. No quarterly advance payment is made for the fourth quarter.

4. Natural persons carrying out economic activity as traders within the meaning of the Trade Act, including Sole traders, as well as farmers, when they have chosen to be taxed as sole traders, apply the above-described rules for advance payments, and for them the deadline instead of 04/15/2020 is 04/30/2020.

5. Extension of the deadline for declaring and submitting the tax on expenses under the ZKPO, as well as the tax on the income of budget enterprises, the tax on the income from auxiliary and auxiliary activities within the meaning of the Gambling Act and the tax on the activity of operating ships, to June 30, 2020 Mr.

6. Extension of the deadline for submission of the annual activity report (AAR) until June 30, 2020

7. Extension of time to June 30, 2020. for submitting the annual income tax declaration of natural persons carrying out economic activity as traders within the meaning of the Commercial Law, including sole traders, activities as farmers, when they have chosen to be taxed as sole traders, as well as for the payment of the tax due by these persons according to the declaration.

8. Extension of the period for using the 5% discount from the tax due for remittance according to the annual tax return for taxation of the income of natural persons until May 31, 2020 for natural persons carrying out economic activity as traders within the meaning of the Commercial Law, including sole traders as well as farmers when they have chosen to be taxed as sole traders.  

9. The deadline for natural persons who are not sole traders to submit an annual tax return and to pay the tax on the return remains unchanged - April 30, 2020. The deadline for using the 5% import tax discount is 31.03.2020.

 10. During the state of emergency, enforcement under the Tax and Insurance Procedural Code /DOPK/ is suspended, and interest is charged for the period of the suspension. Securing of obligations and distribution of sums in executive cases can be carried out. At the request of the debtors, the public executors may carry out execution on claims and cash from banks, claims from third parties, valuables deposited in vaults and the contents of safes. There will be no public auctions and no foreclosures.

11. During the Emergency enforcement cases are not established by the public contractors of the NRA, except in particularly important cases.  

The National Revenue Agency advises its customers to postpone their visits to the NRA office until the end of the state of emergency, and until then use the electronic services available at https://inetdec.nra.bg/  with personal identification code (PIC) or electronic signature. The NRA structures continue to work and provide administrative services to customers with additional measures for protection and permanent disinfection of the premises. You can also get information and assistance on the NRA information phone - 0700 18 700 from 8:30 a.m. to 6:00 p.m. on working days of the week, including financial matters for businesses and citizens in connection with measures against the spread of the corona virus.

Opinion No. 20-00-54/27.03.2020 on the implementation of the Law on measures and actions during the state of emergency, in connection with deadlines under the DOPK and material tax laws

Frequently asked questions and their answers

1. Will the deadline for declaring and paying the VAT due be changed?

No. The deadline for declaring and paying value added tax will not be changed.

2. Will the deadlines for making mandatory insurance contributions be changed?

The deadlines for the payment of the mandatory insurance contributions by the insurers will not be changed in order to preserve the rights of the insured and guarantee the timely payment of the due insurance benefits, including pensions and benefits for temporary incapacity for work and unemployment benefits. The deadlines for making the monthly advance payments by the self-insured persons are also preserved. Final insurance contributions are paid by the self-insured within the deadlines for submitting the annual tax return under the Personal Income Tax Act.  

3. If the corporate tax return has already been filed, will there be a delay in paying the tax?

Yes, the deadline for paying the corporate tax on the annual returns will be extended for those who have already submitted them.

4. How do I get a certificate that I have no obligations for taxes and mandatory insurance contributions during the state of emergency?

You can also request the issuance of a certificate of presence or absence of public obligations electronically, using your PIK or KEP. Log in to the NRA e-services portal  https://inetdec.nra.bg/  and submit a "Request for Issuance of Document" noting that you need a certificate of the presence or absence of obligations. The certificate issued and signed with an electronic signature will be sent to the email indicated for contact in connection with the electronic services of the NRA. The electronically signed document can be presented to the institution or organization that requires it from you. The document issued and signed with KEP by a revenue authority can be sent electronically and directly to the institution or organization that requires it from you, with an explicit indication of an email address to which it should be sent.  

5. How to restore interrupted health insurance rights during the state of emergency

If your health insurance rights have been interrupted due to non-payment of contributions, you can submit a Form 7 return and pay the health contributions due online. You can read details here: (https://nap.bg/page?id=350). Your updated health insurance status will become visible on the electronic statement on the NRA website by 12 noon or at the latest at midnight on the day the payment is received by the NRA.

If you are restoring health insurance rights on another basis (for example, you are a full-time student abroad, you were insured in an EU member state, etc.) and it is necessary to submit documents to the National Revenue Agency, you can send them scanned by e-mail to the revenue office permanent address agency. See telephone numbers and e-mails of the NRA offices - https://nap.bg/page?id=24

6. How can I submit an income declaration without visiting the NRA office if I do not have a PIK or an electronic signature?

You can complete the declaration with a barcode - https://www.nap.bg/document?id=19742, print it and send it by registered mail to the NRA office at your permanent address. 

7. Can I get a PIK remotely without visiting a NRA office?

No. Issuance of a PIC requires a personal visit to the NRA office by the person or authorized by him with a notarized power of attorney. Until the state of emergency is lifted, we recommend that you do not visit NRA offices unless absolutely necessary.

8. How can I check which additional compulsory pension insurance fund (second pension fund) I am in during the state of emergency?

You can check in which additional mandatory pension insurance fund (DZPO) you are participating in without visiting a NRA office in person. This can be done either by calling the NRA Information Center phone number 0700 18 700 or in the e-services portal https://inetdec.nra.bg/ with PIK or electronic signature.

Use the e-services of the NRA and the System for secure electronic delivery

In connection with the measures to limit the COVID-19 pandemic, the National Revenue Agency calls again on its customers to limit their visits to the agency's offices.

The submission of tax and insurance declarations and documents, as well as payment to the budget, can be made through the NRA e-services portal https://inetdec.nra.bg/ - with a personal identification code (PIK) of the NRA or with an electronic signature .

In addition to the portal for electronic services of the NRA, users can send or receive a letter or other type of correspondence with the revenue administration through the Agency's official email address, as well as through the Secure Electronic Delivery System. It provides an opportunity to conduct correspondence electronically - submitting complaints, alerts, requests, etc. , allowing the sending and/or receiving of electronic documents to and from public bodies, individuals and legal entities, including for many other agencies besides the National Revenue Agency.

The use of the system requires registration and the presence of a valid electronic signature or PIK of the NOI. Communication with the e-Service System replaces the classic method of registered mail, in accordance with Art. 44, Art. 43, Art. 26, para. 2 and para. 4 of the Law on Electronic Government. From 18.03.2020, there is an opportunity to issue a one-month free electronic signature from certification service providers who will provide an online opportunity to request the signature. You can get more information https://egov.bg/wps/portal/egov/topical/be7210e2-457c-4b74-b8cc-f919ecffc9fe

Source: National Revenue Agency

Taking advantage of the challenges of the visit and the released market niches, on March 8, 2018 (Thursday), the Executive Agency for the Promotion of Small and Medium Enterprises (IANMSP) organized a business forum with bilateral meetings between the representatives of the business circles of the two countries.

The purpose of the business forum is to create contacts between businesses from both countries, to get to know the specifics and opportunities of business environments and to search for new forms of mutually beneficial cooperation. As a final result, the expectations are related to the activation of trade between Bulgaria and Qatar and the stimulation of joint investments.

Source: BCCI