Financial and business news from Bulgaria

Economy Minister with important financial news because of the crown crisis

A new measure of BGN 80 million will help with working funds for small businesses. This was announced by Economy Minister Lachezar Borisov at a briefing in the ministry after meeting with employers and trade unions.
Economy Minister Lachezar Borisov

"There are companies that are omitted from the previous procedures. The budget can be increased later. There are discussions about which companies to be included. Up to BGN 50 000 will be provided per company, the assistance is gratuitous”, explained the Economy Minister.

According to Borissov, the meeting was debated which companies would be able to benefit from this measure — those with a turnover of more than 500 000 or over 300 000 BGN. He added that the aid intensity will be 100 and the ceiling remains subject to discussion 50 000 or 100 000 BGN.

New BGN 291 million will go to a measure of digitalization of the business, and the funds will be under the European Programme for the Consequences of COVID-19 (ReACT-EU). In the program 20% will be self-participation by companies.

Collective protective equipment for companies will also be funded with money from the state. From currently available funds there will be a procedure for adapting the activities of small and medium-sized enterprises in the context of the crisis with COVID-19.

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"We will include both micro, small and medium-sized enterprises. We discussed micro-enterprises to receive up to 15 000 BGN, small ones - up to 30 000, and average - up to 70 000 BGN 82 million is the indicative budget”, the Minister said.