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Bulgaria: Fightback 'begins in April'

Tuesday, March 16, 2010

Source: Catherine Deshayes

Bulgaria's economic recovery will start in April 2010, according to Tsvetan Simeonov, Chair of the Bulgarian Chamber of Commerce and Industry.

"Bulgaria's economy has seen harder times. If the GERB party lives up to its campaign promises - not to increase taxes, to reduce the administration - we are not going to be in the situation of some of the neighboring states," Simeonov told Pro.bg TV apparently referring to the situation in Greece.

Simeonov has slammed the Borisov Cabinet for its policy to delay payments it owed to private companies, and to pay immediately only to those who give up 10% of the state debt to them.

The Bulgarian Chamber of Commerce and Industry, together with the major trade unions, have insisted that the government publish a schedule of paying out the money it owes to private businesses that executed public procurement orders. This would allow the firms to apply for credits, Simeonov said.

In his words, when drafting the 2010 budget, the government did not take into account the possible drop in the level of revenue which occurred in the first months of the year.

The BCCI favors strongly the idea of the Finance Minister, Simeon Djankov, that state employees should pay their health insurance on their own because this will improve the equality in the labor market.

Source: www.novinite.com