Employers in Bulgaria Call for Package of Stabilization Measures

Employers expect dialogue with the government and a package of stabilization measures aimed at improving the business climate, according to a survey of the Bulgarian Chamber of Industry and Commerce (BCCI) conducted in end-July among members of the organization.

According to the survey, Bulgaria's business sector needs a predictable business environment.

As regards the current political situation in the country, the respondents say that the lack of predictability has a negative impact on businesses.

Political instability poses great risks and erodes the trust of foreign partners and they are more inclined to delay concrete projects, the BCCI informs, as cited by investor.bg.

Meanwhile, 31% of the polled say that VAT refund deadlines have been shortened, while 64% disagree with the statement.

As regards easing lending conditions for the business sector, 93% of employers say that there has been no positive change, while 5% report improvement.

According to the survey, 69% of employers frown at the proposal for increasing the maximum social insurance income from BGN 2200 to BGN 31000, saying that the measure is hasty and will increase the social security burden and the grey sector in Bulgaria.

At the same time, fears that people paying substantial social security contributions will not receive adequate pension rates remain widely held.

As regards measures for reducing youth unemployment through state subsidies for hiring employees on their first employment contract, 55% of BCCI members are in favor, while 24% oppose the measure.

The business sector also expects the National Revenue Agency and all control bodies, especially the Customs Agency, to boost activity, according to the survey.

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