Vasil Pavlov


The capital market in Bulgaria is significantly behind the EU market. It is characterized by low market capitalization, a small number of listed companies and a scant interest in financing by both institutional investors and individual investors. Of course, this fact can be explained by the insufficient awareness of the population about the opportunities this market offers, and that would be true, but it would not be enough. The crunch in the development of the capital market in Bulgaria leads to a number of important consequences for the economy, perhaps the most significant of which is the strengthening of the role of commercial banks as the most important sources of credit resources. The report monitors the state of the Bulgarian capital market and seeks opportunities for the widespread penetration of derivative instruments that will increase the interest of investors and lead to attracting additional capital to the capital market in the country.


financial market, stocks, trades, derivative instruments, risk management, hedging, options.

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New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria - contract № КП-06-НП1/5 of 17.12.2019 in the competition of Bulgarian scientific periodicals – 2019

New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria – contract № ДНП 05/52 от 22.12.2016 in the competition of Bulgarian scientific periodicals – 2016

The contents of this publication do not necessarily reflect the position or opinion of the National Science Fund of the Republic of Bulgaria. The opinions expressed are those of the author(s) only and should not be considered as representative of the National Science Fund’s official position.

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