Actual Unemployment Rate in Bulgaria Exceeds 18% - NGO

Society | January 4, 2013, Friday // 12:01|  views

Photo by EPA/BGNES

The actual unemployment rate in Bulgaria is exceptionally high, over 17-18% of the active population, according to Dimitar Brankov, Deputy Chair of the Bulgarian Industrial Association (BIA).

In a Friday interview for the BGNES news agency, Brankov commented that the unemployment rate had dropped in the period 2004-2008 due to the investment credit boom in construction and other sectors.

"However, once that investment boom was over, our economy and employment returned to their previous rates," he noted.

Brankov argued that this pointed to structural problems which had not been caused by the economic crisis but by the economic structure, and the laws and regulations applying to businesses.

The BIA Deputy Chair insisted that the moment was important in the long perspective because of the need to adopt a well-focused National Program for development "Bulgaria 2020 and the new 2014-2020 budget framework of the EU.

Brankov claimed that the creation of a National Program for development "Bulgaria 2020" required nationwide consensus among political parties, including ones which were yet to enter Parliament, expert consensus, and consensus among the interested parties, syndicates, employers, etc.

"This is why a prolonged government crisis after the elections will not be a fortunate turn of events," he added, commenting on the aftermath of the forthcoming 2013 parliamentary elections.

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Tags: unemployment, unemployement rate, Bulgarian Industrial Association, BIA, Dimitar Brankov, economic crisis, EU budget, 2014-2020


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