Bulgarian Business, Trade Unions Draw Up Plan to Combat Crisis

Six nationally represented employers' organizations and the two biggest trade unions have drawn up fifteen measures in a bid to cushion the impact of the financial and economic crisis. Photo by BGNES

Companies, which have outstanding takings from the state and the municipalities, will not be subjected to penalties in cases of delay in paying taxes and social securities.

This is one of fifteen urgent short-term measures, included in document, drawn up by six nationally represented employers' organizations and the two biggest trade unions in a bid to cushion the impact of the financial and economic crisis. The document will be presented to Prime Minister Boyko Borisov and Finance Minister Simeon Djankov in the coming days.

The social partners suggest that the period, during which the state and the municipalities, delay payments to the business, is tax-free. The goal is to allow the companies to apply for European projects despite their debts.

The business and the trade unions also suggest the establishment of public registers to record the outstanding debts in VAT, excise duties and under European projects.

The document also includes six measures for improving the access to the financial resources, including the development of a capital market through the privatization of state shares on the Bulgarian stock exchange.

"The approval of the proposed measures by the government is a necessary condition for the launch of negotiations under the National Pact for Restoration of the Economy and Employment Rates,” the document says.

According to the trade unions most of the proposals should be implemented by June 2010.

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