Heat the oil in a large pot over medium-high heat. Add the beef and brown it on all sides. Don’t rush this step—the caramelized bits build the best flavor.
Add the onions and garlic, cooking until the onions are soft and golden. Stir in the tomato paste and paprika, letting them toast for about a minute.
Pour in the beef broth, scraping up any browned bits from the bottom of the pot. Add the carrots, potatoes, leek, celery, and bay leaf.
Reduce the heat to low, cover the pot, and let the stew simmer gently for about 90 minutes, or until the beef is tender and the vegetables are soft.
Season with salt and pepper to taste. Remove the bay leaf before serving.
Ladle into bowls, sprinkle with fresh parsley, and serve with warm bread.