Financial and business news from Bulgaria

Economy Minister with very important news

All statistics show that we are among the leaders in macroeconomic stability. Our government debt is 4 times better than the average in the EU. Bulgaria has buffers in terms of budget structure.
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This was announced by Minister of Economy Lachezar Borissov in the broadcast “Offensive with Lyubo Ognyanov” on Channel 3.

Borisov noted that there will be no closure of the business and lockdown.

He stressed that we need an accurate balance between the health, social system and the economy.

According to him, our decline in the second quarter in Bulgaria was much smaller compared to France, Italy, the United Kingdom, which is why the growth in our third quarter is smaller because we have less to recover. But investment is going upwards, the minister said.

"There is growth in investments in high technology. There are over 716 million leva certified projects. More than 3500 jobs are being created,” he said.

Lachezar Borisov recalled that VAT was reduced in individual sectors as an anti-crisis measure. In the summer, there was a growth in VAT payment, despite its lower figures. The 60/40 measure continues to work.

Under this measure, over BGN 500 million have been paid. Businesses like this measure, he also said.

Low-interest loans have already been absorbed over BGN 200 million. It will continue to work and will now be able to allocate up to 1 million leva for small and medium-sized enterprises and up to 2 million for large enterprises.

"The Bulgarian economy shows good positives. The risk is that the COVID crisis will unravage further and that there will be difficulties in international trade. The vaccine will overcome this risk, “the Minister of Economy said.

The development plan must be viewed globally and in a system in order to see the overall picture. This is a connected environment and can not be considered schematically, Borisov said.

He announced that all documentation for the creation of the State Petroleum Company is ready.