BIA: Real Unemployment in Bulgaria Stands at 19.2%

Business | March 29, 2013, Friday // 13:21|  views

The Chairman of the Bulgarian Industrial Association, BIA, Bozhidar Danev. Photo by BGNES

The Chairman of the Bulgarian Industrial Association, BIA, Bozhidar Danev, has reported new shocking data on the unemployment level in the country.

Speaking Friday for Nova TV, Danev said this level really stood at 19.2% and included those who cannot finds jobs and those registered with the labor bureaus.

According to him, 44.3% of the country's youth are unemployed without being enrolled in any school.

Youth unemployment has increased by the skyrocketing 20.4% since 2008, while the overall unemployment – by 9.3%, Danev further explained, citing data from the National Statistics Institute, NSI.

In the same TV studio, Prof Boyan Durankiev, from the University of National and World Economy, noted the next government should up the minimum monthly wage to EUR 300. He stressed shady Bulgarian business is getting wealthier and wealthier on the backdrop of the overall impoverishment of the nation.

Danev stated that during the term of the resigned Cabinet of the Citizens for European Development of Bulgaria party, GERB, BGN 4 B from the fiscal reserve have been poured in vain in the economy, in addition to taxpayers' money and BGN 4.2 B in loans.

He stressed that national revenue is being exported in mass from Bulgaria by the corporations, giving as example the three foreign-owned power distributors, CEZ, EVN, and Energo-Pro, which have been accused of having a monopoly position on the Bulgarian market.

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Tags: unemployment, revenues, power distributors, GERB, youth, CEZ, EVN, Energo-Pro, minimum monthly wage, Boyan Durankiev, Bulgarian Industrial Association, BIA, Bozhidar Danev


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