Bulgaria - Media Review - October 5

Following are some of the main stories in Bulgarian newspapers on Monday morning. SeeNews has not verified these reports and cannot vouch for their accuracy.

PARI

- The output of Bulgarian metallurgy has fallen by some 30% since the autumn of 2008 when global crisis hit but no sector companies have gone bankrupt so far. The only exception is the country's largest steel mill Kremikovtzi but the reason for its insolvency was its sale to Indian-owned Global Steel and not the crisis.

- Bulgaria's construction sector contracted by 67.4% on the year in the first half of 2009, Regional Development Minister Rosen Plevneliev said. Companies in the sector saw their revenue decline by 15.3% year-on-year through June and foreign investment in construction projects shrank to 366 million euro from 1.2 billion euro a year ago.

STANDART

- U.S.-based AES will open on Tuesday a 156-megawatt wind farm in northeastern Bulgaria, the largest in southeastern Europe. Total investment in the project is worth 270 million euro, the mayor of nearby town of Kavarna Tsonko Tsonev told Standart.

TRUD

- The Finance Ministry will submit a balanced 2010 budget draft to the cabinet for consideration on Wednesday, Finance Minister Simeon Dyankov said. GDP is projected to fall by 2.0% next year in the budget draft and no rise in direct taxes is planned but excise on cigarettes will increase sharply.

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