The New Legal Framework for Public Enterprises

Abstract

The fast changing socio-economic conditions worldwide, the public the need to build a functioning market economy in our country, the need to harmonize Bulgarian legislation with that of the European Union have necessitated the adoption of an entirely new legal framework for public enterprises. Emphasis in the development is placed on the current and complex legislative changes introduced by the Public Enterprises Act and the Regulations for its implementation, which are guarantee for the improvement of the corporate governance of public enterprises, of the results in their financial condition, limiting the fiscal risks, as well as increasing the publicity and accountability of their management. In the end, conclusions are made about the application of the new legislation governing public enterprises.