Vol. 71 No. 2 (2026): Issue 2/2026

Articles

• Nikolay Nenovsky — Jules Verne University, France, University of National and World Economy, Sofia, and SU HSE, Moscow

  Tsvetelina Marinova — New Bulgarian University, Paul Bairoch Institute of Economic History (University of Geneva), and LEFMI (Jules Verne University, France)

  GEORGI PETROV AND THE THEORETICAL FOUNDATIONS OF THE MARKET SOCIALIST ECONOMY IN BULGARIA

  Abstract ▾ PDF

  стр. 189-217

  This article examines the main themes and ideas behind the intellectual project of Georgi Petrov, which constitutes a coherent and well-argued justification of the need for a decentralized economy. Among the central topics discussed are the transition from directive planning to the use of economic levers, the establishment of a new basis for price formation, the granting of full autonomy to enterprises, and their integration into market mechanisms based on competition and profit incentives. The article also presents his views on forms of ownership and on the overall model of democratic socialism. His 1969 book Commodity Relations and Price Formation under Socialism stands out as one of the most significant Marxist theoretical arguments in support of the market economy model in Eastern Europe during that period.

• Nikolay Nenovsky — Jules Verne University, France, University of National and World Economy, Sofia, SU HSE, Moscow, Bulgarian National Bank Governing Council.

  Tsvetelina Marinova — New Bulgarian University, Paul Bairoch Institute of Economic History (University of Geneva), LEFMI (Jules Verne University, France).

  THE SOCIALIST CYBERNETIC IDEAL OF EVGENI MATEEV

  Abstract ▾ PDF

  стр. 218-243

  This article presents the main ideas and contributions of Evgeni Mateev, whose extensive body of work is difficult to encompass in its entirety. Following a brief biographical overview, it traces the development of his views toward systems theory and cybernetics. The key elements of his model of socialism and the algorithm for its practical implementation are analysed. The article also examines fundamental methodological principles formulated in his seminal work, Structure and Management of the Economic System (1987), including microeconomic aspects related to the role of enterprises. 

• Petko Salchev — National Center of Public Health and Analyses, Economic Research Institute at the Bulgarian Academy of Sciences

  ANALYSIS OF THE MEDICAL EXPERTISE SYSTEM IN BULGARIA: STRUCTURAL DEFICITS, FINANCIAL SUSTAINABILITY AND STRATEGIC PATH TOWARDS THE ICF MODEL

  Abstract ▾ PDF

  стр. 244-274

  This article examines the state of and challenges facing the system for medical expertise determining permanent disability in Bulgaria (the TELC system). Despite recent steps towards fairer calculation of percentages, the introduction of lifetime TELC status for more diseases, digitalisation and the elimination of delays with legislative changes from 2023–2024, the system continues to suffer from serious structural deficits rooted in the strictly medical approach to disability assessment. The article analyses the increasing number of disability decisions and their impact on the long-term financial sustainability of the funds of the National Social Security Institute (NSSI). Special attention is paid to the discrepancy between medical diagnoses and real functional possibilities for integration into the labour market. The author argues that the strategic modernisation of the system requires a paradigm shift from a medical model to the WHO International Classification of Functioning, Disability and Health (ICF) framework. The results show that adopting a biopsychosocial approach would not only increase social justice but would also optimise public spending by more accurately targeting support and rehabilitation services.

• Aleksandar Shterionov — Institute for the State and the Law, Bulgarian Academy of Science

  PROTECTING THE EU’S FINANCIAL INTERESTS UNDER THE RECOVERY AND RESILIENCE FACILITY: PRACTICAL CHALLENGES AND RISKS

  Abstract ▾ PDF

  стр. 275-299

  The Recovery and Resilience Facility (RRF) constitutes a qualitative leap in European fiscal integration. For the first time, the European Union (EU) issues common debt in such an amount and channels the resulting resources through a direct-management, performance-based delivery model grounded in “financing not linked to costs.” This federative-style architecture entails a systemic recalibration of the balance between national autonomy and Union-level responsibility and, in doing so, generates novel challenges for the protection of the EU’s financial interests (PIF).

  This paper assesses the implications of the RRF’s delivery model considering the protection of the financial interests of the Union. It argues that the innovative approach relying on milestone-and-target verification changes what can be monitored, audited, and credibly enforced. Drawing on recent audit findings and the evolving anti-fraud framework, the analysis identifies both cross-cutting and RRF-specific practical challenges. Monitoring tools are stretched by methodological constraints: common indicators may capture implementation progress yet remain insufficient for measuring performance, and deriving an objective “overall error rate” is difficult when payments are detached from declared expenditure. Moreover, the combination of broadly drafted key indicators and administrative discretion can facilitate “formal compliance”, whereby reporting appears procedurally sound while implementation remains substantively incomplete. Finally, the RRF introduces the operationalization of the concept of “serious irregularities”, which raises questions as to legal certainty, evidentiary thresholds, and enforceability in practice. The paper concludes that the RRF confirms the Union’s capacity to deepen integration in times of crisis, and that this process always brings with it new types of risks and challenges. It also produces new categories of risk that demand calibrated safeguards.

• Hady Sutjipto — Department of Economics, Faculty of Economics and Business, Universitas Sultan Ageng Tirtayasa, Indonesia

  Saharuddin Didu — Department of Economics, Faculty of Economics and Business, Universitas Sultan Ageng Tirtayasa, Indonesia

  Rah Adi Fahmi Ginanjar — Department of Economics, Faculty of Economics and Business, Universitas Sultan Ageng Tirtayasa, Indonesia

  Tony Santika Chendrawan — Department of Economics, Faculty of Economics and Business, Universitas Sultan Ageng Tirtayasa, Indonesia

  Andi Kustanto — Policy Research Institute for Development Economics (PRIDE), Indonesia

  CONTROL OF CORRUPTION AND ECONOMIC GROWTH IN DEVELOPING ASEAN COUNTRIES

  Abstract ▾ PDF

  стр. 300-329

  Corruption reflects governance failure, which increases transaction costs, weakens regulatory certainty, and ultimately suppresses economic growth. This study analyses the effect of corruption control on economic growth in eight developing ASEAN countries from 2012 to 2024. Panel data econometric methods using fixed effects models with the Driscoll–Kraay standard errors (FE-DKSE) have been employed to estimate the effect, whilst feasible generalised least squares (FGLS) and panel-corrected standard errors (PCSE) are applied as robustness checks to validate the findings. The results consistently indicate that corruption control exerts a positive and significant effect on economic growth, operating through the strengthening of the investment climate, macroeconomic stability, and the effectiveness of public policies. These findings underscore the importance of prioritising anti-corruption reforms, strengthening the rule of law, improving human capital quality, and enhancing the productivity of public spending as central pillars of sustainable economic development in the region.

• Arsim Gjinovci — University of Prishtina, Kosovo

  Dren Gjinovci — University of Prishtina, Kosovo

  THE ROLE OF PERFORMANCE RESPONSES IN RELATION TO PERSONNEL AND THE ADVANCEMENT OF HUMAN RESOURCES ACCORDING TO EDUCATION AND EXPERIENCE

  Abstract ▾ PDF

  стр. 330-348

  In order to manage human resources more professionally, managers should implement specific tools for increasing motivation within the organisation. One of the main roles of human resources is their action as a factor of organisational and cultural changes and transformations within organisations and beyond. Performance appraisal in the studied organisations shows that it is a formal assessment carried out systematically. Therefore, in the future, greater attention should be devoted to employee relations, workforce planning, continuing education, and motivation.

  Performance appraisal is carried out in a specific way in relation to the work, behaviour, and potential demonstrated by employees within the organisation. Organisations need professional employees who are not easily found in the labour market, or they need to develop them through specialised training and continuous education. This research aims to identify the challenges faced by organisations operating within the Kosovo market and provide recommendations that may be useful for businesses interested in motivating, promoting, developing, and advancing human resources based on education and work experience.