Bulgaria: The Ministry of Economy Will Support the Economy with BGN 1.8 Billion

Business » FINANCE | July 28, 2020, Tuesday // 16:59
Bulgaria: Bulgaria: The Ministry of Economy Will Support the Economy with BGN 1.8 Billion

A financial pillar of BGN 1.8 billion will help the recovery of the Bulgarian economy and support business in our country. The measures will be implemented by the Ministry of Economy, which will report on its work every two weeks. This was announced by the new head of the department - Minister Lachezar Borisov at a press conference on Tuesday. It took place after a meeting with employers' organizations and NSFB leader Valeri Simeonov.

The total amount for the implementation of the anti-crisis measures may increase by another BGN 400 million, said the minister.

"The ministry and the employers have similarities in terms of 85-90% of the ideas. There are some open topics left, on which we will make fine adjustments in the coming days, "said Borissov. He added that new legislative initiatives would be needed to implement all plans.

One of the main goals of the ministry is to encourage investment. New ones worth about BGN 1 billion are also expected, Borissov added.

"As a minister, I will never talk and look at lists of companies. I am not interested in who is on the list. We will make principled decisions," Borissov was adamant.

He announced that a telephone for reporting irregularities would be opened soon.

"The aim is to prove or disprove the allegations that there are intermediaries in the ministry, without whom it is impossible to receive grants. Including whether there are lists with the percentages of bribes to be given ", specified Valeri Simeonov.

"I admire and support the way of work of Minister Borissov - open, direct dialogue with business representatives in Bulgaria. This is a guarantee that the ministry will have transparent activities. The measures we approved yesterday were quickly discussed. In detail, it was agreed that there would be a few days for further discussions. If necessary, parliament will be convened in an emergency. We are entering the most difficult stage of the COVID-19 crisis, "Simeonov added. He added that the proposal to reduce VAT for the most affected industries has already been submitted. News in this regard is expected on Thursday.

"Any effort to support the business is welcome. What we have agreed is to simplify the procedures for access to projects and funding as much as possible. The measures are many and funds and efforts must be redirected so that they can be clear to their users ", commented the President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov.

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