Economy Minister: It is Warlike Situation, Bulgarian Economy Doing Well on the Front

Business | December 14, 2020, Monday // 16:09
Bulgaria: Economy Minister: It is Warlike Situation, Bulgarian Economy Doing Well on the Front wiki

Certainly the anti-epidemic measures have had their effect and the situation has improved, stated on bTV Minister of Economy Lachezar Borisov commenting on the partial lockdown in Bulgaria and the plans for opening the state after 21 December.

He insisted on strict adherence to the measures so that the economy could work.

In the words of the Minister in Bulgaria, there was never been a total lockdown. The Minister expressed hope that there will not be a lockdown in the future. According to him, the measures were absolutely timely and were taken when we reached 600 Covid infected per 100 000 inhabitants, as are the international standards.

Borisov expressed the opinion that the best balance has been found between health and economy, social system and the people.

First and foremost comes people's health, an economy without people is impossible, he reminded.

According to him, the so-called " "credit vacation" till the end of March is a great help to business, and it will be complemented by two other measures proposed by the government.

Asked if the government's measures actually hit business, the economy minister pointed out that the coronavirus had affected all systems as if we were at war.

First we impact small businesses, the most affected ones who are on the front line, then we impact everyone else and finally we work on restructuring the whole economy, he explained.

The minister pointed out that the Ministry of Labor and Ministry of Economy have invested more than €1 billion in the business and have put in place anti-crisis measures worth over BGN 2 billion.

In his words, the Bulgarian economy has 5 fronts on which it performs very well. He pointed out that unemployment in Bulgaria is lower than the EU average and consumption within the GDP structure is even growing despite the crisis. Borisov added that during the third quarter we received first signals for improving investments. Along with other good fronts, he highlighted the financial stability of the state, the buffers we have, and the assessments of international credit agencies.

The Minister pointed out that 250,000 jobs have been saved under the 60/40 measure alone, and since the start of the pandemic, the Employment Agency has found jobs for 200,000 people.

According to his data, foreign investment in Bulgaria within a year, and in times of crisis at that, is €1 billion. The investments, which are certified under the Investment Promotion Act, are worth over BGN 480 million.

Regarding the situation with dams in the country, he pointed out that there are 413 facilities in need of repair. Of these, 208 dams have been approved for relatively urgent repairs, with 150 accepted projects for repair and restoration works worth € 361 million.

As for the idea of state-owned gas stations, Borisov shared an expectation that this Wednesday the project will be adopted by the Council of Ministers and a competition commission for the appointment of a governor will be convened.

 


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Tags: Economy Minister, Bulgaria, Coronavirus crisis
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