Unemployment to Hit 15% in Bulgaria by Sept

Bulgaria's Social Policy and Labor Minister, Hasan Ademov, photo by BGNES

The number of unemployed people in Bulgaria will go up by 50 000 to 60 000 people by the end of August, according to Social Policy and Labor Minister, Hasan Ademov.

Ademov says these are people hired some time ago through social programs which are nearing their deadline. He warned that his Ministry's funds for subsidies for new job openings were at a minimum, all while the ones from the EU operational program Human Resources Development were depleted.

With the new people joining the unemployed in Bulgaria, their number will reach half million or the staggering 15% of the population.

According to data of the National Statistics Institute, NSI, there were 456 000 jobless people (13.8%) in the first quarter of 2013, when the unemployment rate is generally the highest.

There are unabsorbed EUR 425 M under the EU operational program Human Resources Development, however, they have not been slated for the labor market. Ademov explained the government was going to negotiate with Brussels their redirection to employment measures.

The Social Ministry has also launched talks with the Education Ministry to find ways to salvage BGN 200 M in funds for internships of high school and college students, which might be lost over delays in contracting these internships.

The former Director of the Employment Agency, Rositsa Yankova, will be Ademov's Deputy in charge of the labor market.

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