Effects Of Past Amendments To The Concessions Act

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The controversial amendments to the Concessions Act have been in effect for more than a year and a half. At the time of their adoption by the Bulgarian Parliament they provoked widespread debate amongst the political parties, business circles and the Black Sea Municipalities on the anticipated negative consequences. Now, in the context of an economic crisis, the amendments seem even more inappropriate.

Many of the critics have argued that the amendments have created opportunities for corruption in relation to the granting of concessions and the performance of concession agreements. The sharp reaction against other parts of the amendments, which actually increase the possibilities for development of the Black Sea Coast, is also not a surprise. The basic amendments can be