Bulgaria PM: Businesses Limit Investment, Fearing GERB Return to Power

Domestic | March 16, 2014, Sunday // 12:25|  views

Bulgaria's Prime Minister Plamen Oresharski, photo by BGNES

Attempts to exacerbate the politically instability in Bulgaria continued to erode the trust of businesses and households, according to Prime Minister Plamen Oresharski.

Speaking Saturday during a seminar of the ruling socialist party in Borovets, Oresharski drew attention to the complex environment in which the socialist-led coalition government was functioning.

Oresharski , as cited by the government's press office, suggested that the option of a return to power of former ruling party GERB (Citizens for European Development for Bulgaria) made the majority of economically active persons refrain from investments and substantial expansions of business activity, adding that it also applied to foreign investors.

"Weak responses to domestic demand also suggest insufficient consumer confidence, which is another economic growth factor," he added.

Oresharski went on to say that the administration had been repeatedly subjected to political pressure and kept restraining its activity.

"We are all convinced that the unnecessary administrative burdens are a major inhibitor to the business climate and economic growth," Bulgaria's Prime Minister declared, adding that laws and secondary legislation on the matter had to be amended as soon as possible.

As regards the next steps on the government's agenda, he said that the Cabinet would continue efforts aimed at improving the business environment, as well as seek to boost the efficiency of revenue collection, to finalize the Partnership Agreement with the European Commission for the 2014-2020 programming period and to launch projects under new operational programs, to curb unsustainable practices in education and redirect policies towards students, to fight for increasing the efficiency of rule-of-law activities, to implement reindustriualization policies,to streamline the administration and implement e-government.

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Tags: Plamen Oresharski, Bulgarian Prime Minister, Socialist-led government, Bulgarian Socialist Party, red tape, administrative burden, GERB, Citizens for European Development of Bulgaria, e-government


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