Financial and business news from Bulgaria

Prof. Bobeva estimated with precision how much the Bulgarian will be impoverished because of COVID-19

10 -15% will be our real impoverishment taking into account inflation. This predicted the former Minister of Trade Prof. Daniela Bobeva.
“Trade in food and drink is 40% of our total trade. It needs to work more to make up for losses in other sectors. Electricity and food costs will be the most serious.

I have to say good to Bulgarian women. They cook, clean, work and study with the children. As I say it's the pajamas economy, we work in pajamas,” she stated.

Economist Bogdanov with a brilliant explanation of the measure 60/40

In the show “Face to Face” on bTV Bobeva commented that we have reduced spending for not going home. But money for food is increased, and the rest of the bills remain, too. According to her, our stores are relatively stocked.

Give an example with Chicago in the US, where there are empty shelves. She shared that her daughter was going around to find eggs.

Bobeva reassured that in the 1990s the Bulgarian people experienced the serious financial crisis when there were only three hours of electricity or three hours of water, and a cake was made without eggs.

“In Bulgaria we have experienced such things and they cannot frighten us. The Bulgarian economy and the education sector apply flexibility. We are the first to switch to e-education,” the professor said.

Important! In these sectors, the state will pay 60% of the salaries of the employees of troubled firms video

She gave an example of South Korea, which are generally a developed country, and there e-education was introduced only now that the peak of the coronavirus has passed. Even Britain have delayed distance learning.

With regard to economic measures taken by the Government Prof. Bobeva said:

For now, Minister Goranov is doing well with the decision not to return VAT if it continues and is correct and the companies pay VAT, and the companies will be more correct and the treasury will be filled “, she commented and said she was glad that there was no repeat mistake of the past regarding VAT.

Gen. Mutafchiski with an extraordinary statement about the situation at Easter

However, she believes that there are no clear criteria for the adopted measure 60/40. And pointed out that he hears an opinion that there will be no 60% aid from the state, and many employees prefer to be made redundant and go to the Labor Bureaux, where they will receive non-bad compensation.

“To say how much money we need — you have to have the whole frame. What he (Goranov, Bel.) has to do and what I do not see done — does not provide this balance between the three sectors.

Must cut budget, cut civil servants. There are unpopular measures ahead, “Bobeva said.

She believes it is good to strengthen exports to countries that have not allowed us before.