10th Jubilee Edition of The Youth Economic Forum

It is a pleasure for me to open the Youth Economic Forum in the presence of people who have already approved and continue approving that the UNWE is a generator of professionals for the national elite, pointed out Prof. D.Sc. (Econ.) Statty Stattev and greeted Vladislav Goranov and Peter Andronov, alumni of the university. The Rector outlined that Vladislav Goranov, Doctoral student at the UNWE is the 16^th Financial Minister over the last 25 years and the Executive Director of CIBANK is a graduate and a long standing lecturer at the university. The UNWE graduates occupy leading positions in the executive authority, administration, science and private business, said also Prof. Stattev and emphasized on the fact that the number of students participating in the Youth Economic Forum had increased and in the current edition their number had reached to 500.

Chief Assistant Daniel Yordanov, one of the founders of the Forum made a brief overview of the previous nine editions, outlined their topics and the participation of eminent specialists. He expressed his thankfulness to the Rectors Managing body for its support over the years in confirming the greatest youth economic forum.

Goranov examined also the perspectives for development of national economy in the next year, the increase of investments and creation of a stable environment for sustainable management, the public expectations for anticipating income, the redistributive role of the state, the reserves in the budgeted income and change of tax system parameters. The greatest challenge to the economic team now is how to activate the factors of economic growth, pointed out Goranov. He also spoke about the establishment of a mechanism for pre-financing the implementation of projects before the receipt of funds from the European Commission. Now the main issue is not to obey to the fiscal economy but to do the contrary. We have to stimulate the internal investment, emphasized the Minister. He announced that there would be made efforts to observe the 3% deficit recorded in the Treaty on the Functioning of the European Union. “It means that we will strive to spend as much as we earn and we will not allow the current generation to live at the expense of the next one”, said the Minister.

One of the most eminent experts in the banking Peter Andronov, Chief Executive Director and Chairman of the Management Board of CIBANK made an analysis on the Banks in Bulgaria. The lack of stability destroys the economy and entrepreneurship, emphasized the expert. Andronov commented the bank activity during a crisis and made forecasts for the development of the sector. He outlined the evolution in the credit and depositing activity of the bank system, examined the issue of profit and impairment, the potential consolidation in the sector as a challenge, the capital adequacy, expectations for the credit activity, etc.

During the three days of the 10^th edition of the Forum were held public lectures and trainings. Guest-lecturers were famous successful persons from the private and state sector and the organizers had prepared five interesting trainings. Ivaylo Penchev, Executive Director of Walltopia spoke to students on the Business Development in Bulgaria. Which are the most important elements in starting a business, what is the difference between the starting business, the small business and the big company? Answers to these and lot more questions were given by Peter Sharkov, co-founder and President of Start It Smart – one of the first most significant entrepreneurship organizations in Bulgaria.