1. Heat the olive oil in a large pot.
2. Add onion, garlic, peppers, carrot and tomato paste; cook for a few minutes until ingredients soften.
3. Add all the other ingredients to the pot except for the bulgur; reduce heat and simmer for 45-50 minutes until all the ingredients have softened.
4. Transfer the soup to a blender and mix until smooth.
5. Place the blended soup back into the pot, add bulgur and hot water and simmer for 15 minutes until the soup has doubled.
6. Ladle into soup bowls and sprinkle with feta cheese and thyme. Serve.