The measures aimed at reducing administrative burden on the citizens and the local business will soon yield the necessary results, Bulgaria’s Minister of Economy Emil Karanikolov told the Bulgarian National Radio on Sunday. The analysis of the opportunities for reduction of the administrative burden and higher transparency has been made since the first working day of the current Bulgarian cabinet, Minister Karanikolov made it clear.
I can assure you that we have registered a substantial progress in that field, because we have engagement towards the cabinet, the business and the National Assembly Committee on EconomicPolicy that by June 15 the analysis will be fully completed and will be at their disposal, Emil Karanikolov went on to say. Bulgaria’s cabinet and the Ministry of Economy have been making analyses of the administrative burden both on state and municipal level. The Ministry of Economy is making efforts to optimize the time for provision of administrative services. We have been making analysis of the taxes paid for those services, Mr Karanikolov further told Horizont channel. Those taxes should only cover the expense made for a given administrative service and no profit should be calculated in that tax. The positive results will be felt by the citizens and the business very soon, Minister Karanikolov assured. In his view Bulgaria does not need to take new loans at present. However, the country should fight successfully smuggling and other criminal activities.
We must fulfill two measures, in order to catch up with the countries that place in the middle of the EU economic rankings. Firstly, we should boost the competitiveness of our economy. Secondly, we must support the small and medium-sized enterprises which are the backbone of the country’s economy. We have already held a series of meetings with ambassadors, as well as with local and foreign representatives of the business. We have been looking actively for new markets and new investors. 8%-9% increase of the average salary on an annual basis is quite realistic. That is why we have been working together with the business to achieve those goals, Emil Karanikolov contends.
The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February..
Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in 2024 will be 2.9%. The ongoing domestic political crisis and the likelihood of new early elections..
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price of over 90 euros per megawatt hour on the stock exchange. The previous threshold was 100 euros. The..
T he LNG terminal near the Greek town of Alexandroupolis has officially srarted commercial operations today, the Greek company Gastrade announced. The..
The final price proposed by Bulgargaz for the sale of natural gas to its customers in October is BGN 63.72 (EUR 32.58) per megawatt-hour before tax. The..
+359 2 9336 661