Научный доклад ID 1805 : 2019/3

Svetla Tzvetkova, Ekaterina Savova

The liberalization of the railway cargo freight market has led to fierce competition and higher customer criteria regarding the quality of provided transport services. Despite the difficulties that Bulgaria’s primary state cargo forwarder, “BSR – Cargo Freights” Ltd., faces, it possesses indisputable energy and ecological advantages over other types of ground transport. The paper emphasizes the association’s capabilities for becoming more effective, achieving permanent stabilization and stable development through the implementation of good management practices and approaches, and putting an end to organizational inertia. The study suggests the integration of innovative financial tools, which will eliminate the current ineffective processes in the association’s activity. “Budget from Zero” is a method of budgeting where all costs have to be balanced in relation to the expected earnings for each studied period. In order to achieve better results in the elimination of ineffective processes, the “Budget by Activities” method can also be implemented in order to analyze the costs and cost-effectiveness of the products that the association offers. These two approaches are a radical alternative to the historical budget the association currently uses and are in conformity with the international standards for permanent improvement of the financial indicators and the association’s liquidity. The paper’s methodology observes the system approach and traditional research methods.

cargo freight sustainable development financial instrumentsтоварни превози устойчиво развитие финансови инструменти.Svetla Tzvetkova Ekaterina Savova


[1] Ananiev, S. 2011,“Expedient Policies for Stable Development of Railway Cargo Freights in Bulgaria”, VTU “Todor Kableshkov” Yearbook, Issue 2, ISSN 1214-362X,

[2] The EU’s Guidelines for the Development of the Trans-European Transport Network,

[3] Ananiev, S. 2009, “Competitiveness of Railway Cargo Operators in the Conditions of a Liberalized Transport Market” Dissertation, UNWE, Sofia, p. 178,

[4] The association’s financial report for 2018,

[5] The Strategy for the Development of Bulgaria’s Transport Infrastructure by 2015,

[6] Ananiev, S. 2018, “Analysis of the European Report for Railway Effectiveness (RPI 2017), for Intensity of Use, Service Quality and Safety”, Scientific Conference with International Participation “Stable Development of Transport Systems” VTU “Todor Kableshkov”, 18-20 June 2018, Science Journal Mechanics, Transport, Communication ISSN 1312-3823 (print), ISSN 2367-6620 (online), Volume 16, Issue 3/1, 2018, http://www.mtc-aj.com article № 1637,

[7] Tzvetkova S, Savova E, 2019, “The Necessity to Improve the Competitive Power of “Bulgarian State Railways – Cargo Freights” Ltd., “Journal of Advanced Management Science”, Vol. 7, №2, pp. 77-83, doi: 10.18178/joams.7.2.77-83,

[8] Ananiev ,S., 2009, “Competitiveness of Railway Cargo Operators in the Conditions of a Liberalized Transport Market”, Dissertation Summary, UNWE, p. 33.




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