Financial and business news from Bulgaria

The Ministry of Tourism has paid over BGN 5.6 million to tour operators

The Ministry of Tourism paid more than 5.6 million levs to 86 companies performing tour operator and turagent activities. The funds are allocated from the state budget and amount to total BGN 51 million. This is one of the measures taken by the Ministry of Tourism to help the sector overcome the consequences of COVID-19. This was reported by the Ministry of Tourism.
The first companies receiving a subsidy have good documents, and the funds will be paid by order of the Minister of Tourism.

This is the first payment to tour operators, which should compensate consumers for unfulfilled journeys in the period 13.03.-31.12.2020

The smallest amount of the payment to be transferred amounts to BGN 593.83 and the largest amount reaches over BGN 711.4 thousand. The amount of single grants is 4 per cent of the turnover excluding VAT in 2019, disclosed in the financial statement under the Accounting Act, and the aid granted is to offset losses to tour operators and travel agents. The aid should be used as a priority to reimburse amounts to passengers whose packages have been cancelled due to COVID-19 for the same period.

Applications for the measure continue, with the submission of state aid applications electronically by completing a web-based application form and accompanying documents through the National Investment Management System (PRM).

So far the total applications submitted are nearly 600, amounting to more than BGN 31,611 million.