Bulgaria Will Apply For EUR 500 Million of EU for Supporting 60/40 Measure

Politics » BULGARIA IN EU | July 3, 2020, Friday // 13:27| Views: | Comments: 0
Bulgaria: Bulgaria Will Apply For EUR 500 Million of EU for Supporting 60/40 Measure

Bulgaria will apply for a EUR 500 million loan to maintain employment. The money is expected to be allocated this year. Application under the SURE instrument is being studied, mostly to finance the 60/40 wage support scheme.

The total budget of SURE instrument is to the tune of EUR 100 billion and EU members can receive funding under this instrument to implement national measures aimed at maintaining employment. The terms of the loan are expected to be extremely favorable. It is impossible to predict whether Bulgaria will have to issue government bonds on the international capital market due the unpredictability of the Covid-19 pandemic and the economic consequences, the Bulgarian Ministry of Finance notes.

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