Business Organization: Bulgaria Massively Closes Jobs, SMEs

Unfortunate economic policies in Bulgaria have led to massive reduction of jobs and closing down of small and medium enterprises, according to Bulgarian Industrial Association chair Bozhidar Danev.

Danev spoke after meeting Bulgarian Minister of Economy and Energy Delyan Dobrev.

"Only for the past 3 months, 56,000 jobs and 27,000 SMEs have closed in Bulgaria," said the businessman.

"Bulgaria needs a new anti-crisis program to prepare it for the coming European economic winter," added he.

In particular, Danev argued that debt crisis in Europe will not be all too easily overcome, and that it needs concerted efforts by governments to deal with it.

According to the BIA chair, the Bulgarian economy and households are starting to suffer from a liquidity crisis that could have adverse social and political effects.

He urged the Bulgarian government to take up measures that really stimulate the economy, rather than merely postpone the negative effects of the crisis.

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