Financial and business news from Bulgaria

Andrey Novakov pointed out the pluses for Bulgaria from the Commission crisis rescue package

For the first time, the EU will draw out a €750 billion loan to tackle the crown crisis. This can only be compared to the Marshall Plan and shows how serious the situation is.
This is what the Bulgarian MEP from the EPP/GERB Andrey Novakov.

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"About 15 billion are planned for Bulgaria. from the EC fund. 3 billion of them will take the form of a loan.

The loan of 750 billion will be paid with funds from the general European budget and the deadline is until 2058. This is quite a long time and it does not seem serious to me that because of this loan Bulgaria will sponsor countries such as Spain and France. This money will only be for economic support and will come through existing Europrogams. Simply put EU funds for Bulgaria will double”, Novakov revealed.

"Most likely, this fund will start operating in the fall. Again, I will reiterate that this money will be for economic recovery. If 5 companies have been approved for example under a European programme for Bulgaria so far, now with these additional funds will be able to approve 7 or 8 companies.

Some of these funds will certainly be directed to the Green Deal as well. Bulgarian companies will have to focus on clean and environmentally friendly production”, the MEP finished.

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