“A gradual transition is apparent in the country - from a closing of the economy to a revival and recovery. This is confirmed also by the level of unemployment, which as of 2 June stood at 5.65%, a drop of 37% compared to a year earlier,” Minister of Labour and Social Policy in the caretaker government Galab Donev announced.
The 60/40 measure stimulating employment will be extended by another two months. More than 700 million euro has been spent so far. “We shall continue to draft new measures until the end of the year, so that Bulgarian employers will feel they have solid support from the state making them be competitive with other employers from the EU countries,” Minister Donev said.
“We are giving banks a free hand. SMEs will be able to affect a swift revival and have access to circulating capital,” Minister of Economy in the caretaker cabinet Kiril Petkov stated. With a 1.25 billion euro fund the state will guarantee before commercial banks that the loans for businesses shall be granted without security. “This means that within the space of 10 days you can apply only if you are a genuine business with documents going back 3 years, and get up to 80% of your earnings,” Kiril Petkov. He described the 10-day application deadline as unprecedented. The loans will have a repayment term of up to 7 years. Self-employed persons shall also be able to avail themselves of this credit instrument, BNR’s Marta Mladenova reports.
In 2023, the government budget deficit was 2% of GDP or €1.9 billion. This is indicated by the final data of the National Statistical Institute. This is a significant narrowing of the budget deficit compared to the previous 3 years...
A forum entitled "Career and Life - Why in Bulgaria?", organized by the Bulgaria Wants You platform, was held at the Royal Geographical Society in London on October 20. The event, which took place for the second time, attracted significant..
International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the..
+359 2 9336 661