Financial and business news from Bulgaria

Radosvet Radev: The business is left to the dogs

After the big crisis of 2010, there was much more optimism in business than today. Back then, the Presider believed that things would get better.
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Today is not the case, and this is due to the fact that the measures of the government are “operetta”. Today, the foreman says to himself, I'll handle it myself.

This was stated in a television interview by BSK Chairman Radosvet Radev on the occasion of the economic situation in the country caused by the COVID crisis.

"The government's economic measures are implemented and happen in real 8 months. In other European countries, measures take place after five calendar days. This reminds me of the line from the famous Bulgarian film - Dad will buy me a bike, but another time.

The sickest thing is that the Bulgarian business is a living creature and they are trying to destroy it. The state destroys the competitive ability of Bulgarian business for the days after the end of the crisis. At the moment, Bulgarian business loses all its advantages. He is left to the dogs or to do it alone”, he also said.

"Entrepreneurs reduce their investment plans by 56%. Bulgarian business has given BGN 400 million for the 60/40 measure and has received BGN 225 million for liquidity support. Those numbers say it all.

The biggest aid to the business was the credit holiday. Another great measure is for small and medium-sized enterprises, but the contracts under it will start to be signed at the end of January and early February next year, and by then many fimras that can benefit from the measures simply will not have them.

Currently, the only companies that undergo any development are IT companies and courier companies in all their varieties”, Radosvet Radev revealed.

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