Financial and business news from Bulgaria

Lachezar Borisov: Nearly 500 million invested under the 60/40 measure

Bulgaria is coping very well with the COVID crisis against the background of all other EU Member States and not only. This was pointed out to BNT Minister of Economy Lachezar Borisov.
Speaking of the health crisis, the most important thing is that Bulgariao was really affected by an 8.5% drop in the second quarter of this year from the point of view of Gross Domestic Product. Against the backdrop of the EU, we are 5-6 points better off. The IMF has shown that the Bulgarian economy is at a very high level and that the measures adopted by the government are extremely adequate. Even the IMF encourages us to be even more active in this policy we are implementing, said Lachezar Borissov.

In his words, each measure requires time and preparation. Currently, Bulgaria is extremely active. Only in the last months and since the beginning of the crisis the Ministry of Economy together with the Ministry of Labour and Social Policy have invested over 1 million leva in the Bulgarian economy.

Nearly 500 million have been invested under the 60/40 measure, about 200 million have been invested in our business, over 200 million levs have been invested under OP “Innovation and Competitiveness”. Yesterday, the Ministry of Economy signed 12 contracts for support of Bulgarian investors for over 10 million leva under ossigitions and several more contracts under municipalities to support infrastructure, said Lachezar Borisov.

Currently, our measures are working. The IMF reported that we are coping and that we have very strong buffers, i.e. we have immunity to this crisis, said the Minister of Economy.

"Bulgaria is three times better than the whole EU in terms of deficit and about 4 times better in terms of debt and this is our strong buffer because the Bulgarian economy was prepared for this crisis”, reasoned Lachezar Borisov.

In the coming weeks, the Ministry of Economy will invest another 330 million leva under the available procedures. For medium-sized enterprises - about 200 million will reach the Bulgarian economy. Another 68 million leva - for the production capacity procedure.