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Nadya Parpulova, Vladimir Zinoviev
Economic Alternatives for the Transport and Energy Sector in the Crisis with Energy Supplies
Summary:
Russia is a major energy and commodity producer. The current conflict in Ukraine escalates inflation to extreme levels causes a disruption and provokes high risks to global growth. Brent oil and natural gas prices spiked early in March before falling back, with Brent oil ending the month at $103 per barrel and European gas prices at ˆ121 per megawatt hour, up 33% and 55% respectively since the start of the year. The European Commission announced ambitious plans to reduce imports of gas from Russia by two-thirds before the end of the year via more diversification, energy efficiency and by accelerating investments in wind and solar power plants. Despite this ambition, the March EU summit in Versailles highlighted that there are few near-term alternatives to Russian gas and that reducing European dependency on Russian gas requires a long-term strategy.
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Lyudmil Nestorov
Characteristics of Bulgarian Economy during the World Economic Crisis 1929 – 1938
Summary:
The objective of this publication is to review the situation of Bulgarian economy during the world economic crisis from 1929 till 1933. The research employs empirical approach and comparative economic analysis. The effect of the crisis upon major sectors of Bulgarian economy, such as agriculture and industry, has been examined, as well as its impact on the state of domestic and foreign trade, the state finance and the circulation of currency.
A conclusion has been made that owing to the economic policy which the government conducted at the time, Bulgarian economy performed relatively well during the economic crisis and succeeded in minimizing the negative consequences of the crisis.
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Evgeni Raykov
Working Capital Management in Bulgarian Public Companies – Empirical Analysis during the Financial and Economic Crisis and Post-Crisis Recovery
Summary:
Modern financial analysis has become more responsible in line with the growing role and functions of financial management for providing reliable information base. It materializes in new control procedures and methodological approaches to analysis that identify more precisely the impact of the external environment and internal resources to maintain the balance between profitability and liquidity. Examined trends in Bulgarian companies have shown variable profitability of current assets as a result of dynamically changing turnover and uncertainty in terms of sales. Low profitability and return on total assets was the result of the negative effect of long-term investment policy before and during the crisis of 2007. Sound liquidity ratios demonstrate stable performance through its adjustment by changes in short-term liabilities and the rise in overall liquidity reflects the priorities of financial management for balanced management of working capital.
