Caretaker Govt Means Deceleration in Investments – Bulgarian NGO

Tsvetan Simeonov, Chair of the Bulgarian Chamber of Commerce and Industry (BCCI), has said that a country lacking a regular government and a clear economic program could not expect to attract substantial investments.

Simeonov, as cited by the Focus news agency, explained Thursday that a caretaker government in Bulgaria would decelerate investments in the country.

Bulgaria's Parliament is holding Thursday a debate and vote on the surprise resignation of the cabinet of PM Boyko Borisov, amid massive protests triggered by economic stagnation.

"The BCCI has given a positive assessment of the macroeconomic stability in Bulgaria but we fear that a potential new composition of the government may not extend the cool-down trend in the sphere of finance," he stated.

"The lack of a government to hold talks with and a Parliament to adopt legal amendments favorable to Bulgarian business will be an obstruction to the business sector," the BCCI Chair noted.

"The failure of governments to complete their terms in office sends bad signals to investors, but the resignation of Prime Minister Boyko Borisov is a personal decision in any case" he declared.

Commenting on the growing discontent of Bulgarians over high electricity bills, which led to a series of mass protests and road blocks all over the country, Simeonov said that "the monopolies are to operate amid utmost transparency and public control."

"The communication between businesses and power distributors is extremely complicated" he stated.

He emphasized that the tense situation in the country made it essential that companies be paid their dues by the state on time and in full amount.