BULGARIA: Bulgaria is poised to close EU accession talks ahead of schedule, but corruption and organised crime are holding back the country's economy, the EU Enlargement Commissioner, Mr Günter Verheugen, said yesterday.
Mr Verheugen said he expected Bulgaria to close negotiations "relatively soon" - EU diplomats say possibly as early as June 15th - and he was confident the country would attain membership in January 2007 as planned.
But rampant graft and organised crime were causing investors to shy away from the former Soviet satellite.
"It is still widely recognised as the major problem for economic development of the country," Mr Verheugen said.
"I have spoken with many potential investors, and some are hesitant to make investments and to do business in Bulgaria because they feel that the fight against corruption and crime could be more convincing."
Bulgaria's economy has grown at a blistering pace of more than 4 per cent annually in recent years, but it has failed to land major investment projects.
Key privatisations have also stalled amidst opposition from opaque political and economic groups.
Gangland shootings are frequent in the capital, Sofia - just last week two assassins dressed as priests gunned down three rivals in a cafe - and high-level politicians are often accused of corruption.
Romania's ruling ex-communists, now known as the Social Democrat Party, suffered a setback in nationwide municipal elections last weekend but remain the biggest party ahead of parliamentary polls in November, official results showed yesterday.
- (Reuters)