Financial and business news from Bulgaria

Economy Minister with big news about business

The measures provided by the Ministry of Economy in the Operational Programme “Innovation and Competitiveness” in the form of cash grants amounting to BGN 500 million. They will reach the business in the coming months.
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This said Economy Minister Luchezar Borissov on the air of BNT.

According to his words, consumption in Bulgaria during the crisis has increased and even wages in the country have risen by nearly 10%.

He reminded that the Ministry of Labour and its department had injected more than 1.25 billion levs into the Bulgarian economy.

The additional measures in the central budget were worth BGN 2.8 billion.

According to signals from the trade unions, however, part of the business cannot benefit from the measures in question.

Data from the Association of Small and Medium Businesses 20% of the sector cannot restore their stopped production and 75% have non-performing loans.

"We found resources under the procedures for micro and small enterprises, as well as for medium-sized enterprises, so every company that meets the requirements will be supported”, Borissov said, adding that the developed measures will be continued this year.

The 60:40 scheme, which supports more than 250,000 jobs and invested nearly BGN 670 million, will continue until September

Bulgarian Development Bank (BDB) measures will be implemented by the middle of the year, but the available funding can reach the end of 2021.

Through the Fund of Funds we will be able to apply for assistance over an even longer period of time.