Bulgaria Owes BGN 1B to Businesses - Industrial Assoc Deputy Chair
The state owes around BGN 1B to businesses due to the halted payments under EU programs, according to Kamen Kolev, Deputy Chair of the Bulgarian Industrial Association (BIA).
In a Thursday interview for the Focus radio, he said that the political uncertainty had started to take its toll on the business environment and the economy.
He specified that the EU funds freeze had affected a number of sectors, adding that construction was experiencing the greatest difficulties because a large number of projects were quite expensive.
Kolev reminded that Bulgaria had stopped receiving payments under the "Environment" Operational Program in November 2013 and that it had had its payments under the "Regional Development" Operational Program stopped a few months ago.
He said that the deadline for the absorption of EU funding expired in end-2015, meaning that it was essential to launch the implementation of EU-funded projects as soon as possible.
Kolev pointed out that the main expectations of BIA towards the caretaker government involved the restart of payments under EU operational programs and timely VAT recovery.
- » Czech Billionaire Kellner Acquired Nova TV
- » Four Countries Prepare an Alternative to the Chinese "One Belt One Road" Initiative
- » Sofia Airport has Served Half a Million Passengers in January
- » 1438 Square Meters of Concrete were Removed from the Seaside of Sunny Beach Resort
- » Bulgaria’s Q4 Household Spending Rises 13%
- » Environment Minister Signs Contracts for Construction of Waste Handling Plants