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Bulgarian economy minister Traicho Traikov (R) at a conference on better regulation in Sofia. Photo by BGNES.
Administrative burden in Bulgaria is going to be reduced by 20% by 2012, announced Thursday economy minister Traicho Traikov, as reported by BGNES.
Traikov stated that the Ministry of Economy has a coherent policy in lowering administrative burden. Under way is an analysis focused on streamlining legislation in order to eliminate unnecessary burdens on businesses.
The biggest administrative burdens in Bulgaria are concentrated in the Ministry of Health (39%), the Ministry of Agriculture (26%) and the Ministry of Interior (20%).
Minister Traikov participated today together with Bulgarian finance minister Simeon Djankov in a meeting on better regulation with representatives from the Netherlands.
At a meeting of Prime Minister Boyko Borisov with administration agencies and municipalities, urgent measures were discussed to reduce the administrative burden on citizens.
Former MP and member of New Republic Party, which failed to enter the Parliament Traicho Traikov, predicted a stable government, with good chance to end the mandate during an interview with BTV.
Former Economy and Energy Minister, Traicho Traikov, is among the possible candidates of Bulgaria's junior coalition partner, the Reformist Bloc (RB), to run in the forthcoming presidential elections in the autumn.
Bulgaria’s government has tasked a working group with proposing legislative and administrative solutions to 10 administrative barriers to investment by January.
Bulgarian businesses are expected to save BGN 144.5 M a year as a result of anti-red tape measures envisaged in the 3rd action plan for administrative burden reduction by 30% by end-2017.
Bulgaria’s Economy Ministry mulls increasing the lower threshold for VAT registration from BGN 50 000 to BGN 200 000 in a bid to curb the informal sector, according to Economy Minister Bozhidar Lukarski.
Around half a million Bulgarians chose to spend Easter inside the country, while roughly 120,000 traveled abroad
Bulgargaz has submitted a proposal to the Energy and Water Regulatory Commission (EWRC) suggesting a natural gas price of €35.98 per megawatt hour (MWh) for May
Acting Energy Minister Traycho Traykov said Bulgaria should not tap into its 90-day fuel reserves to ease prices, stressing that they must remain a safeguard in case of an actual supply disruption
Bulgaria has secured a six-month extension of the Lukoil waiver, following a decision by the US Treasury Department’s Office of Foreign Assets Control (OFAC)
The Bulgarian National Bank (BNB) has decided to increase the countercyclical capital buffer to 2.25%, in a move aimed at easing pressure on the rapidly growing housing credit market and strengthening the resilience of the banking system.
Energy expert Boyan Rashev has warned that Europe could be moving toward what he described as an “energy lockdown” scenario if fuel supply pressures continue to worsen
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