Bulgaria Socialists Promise Business Further Benefits

Bulgaria's Economy Minister, Petar Dimitrov, stated Wednesday that BSP is going to lower the employers' social security payments by 4-5%. Photo by Sofia Photo Agency

Bulgaria's Economy Minister, Petar Dimitrov, has suggested that his Socialist Party was ready to grant business greater benefits should it retain power.

According to Dimitrov, the BSP, which leads the governing three-way coalition, is going to lower the employers' social security payments by 4-5%.

Dimitrov's statement marks a turn of the Socialists' position, who recently declined the employers' demands that the social security payments be reduced as an anti-crisis measure.

Bulgarian economist at the World Bank, Simeon Djankov, recently cited a World Bank report stating that the lowering of social security payments by employers by 5% could save 130 000 jobs in Bulgaria.

On the contrary, the Director of Bulgaria's National Social Security Institute, Yordan Hristozkov, declared that a 5%-reduction of employers' social security payments would open a BGN 1 B gap in the Institute's budget in just 1 year.

 

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