Commissioner Laszlo Andor Concerned with Bulgarian Gray Economy

Bulgaria in EU | May 13, 2014, Tuesday // 11:01|  views

Laszlo Andor, EU Commissioner for Employment, Social Affairs and Inclusion. Photo by BGNES

Bulgaria maintains significant levels of unemployment and gray economy, EU Commissioner for Employment, Social Affairs and Inclusion Laszlo Andor believes.

He also announced that an additional EUR 50 M will be granted to Bulgaria to tackle youth unemployment under a special EU-wide program.

Speaking on public broadcaster BNT's breakfast program, he said that despite the European economy's recovery, Bulgaria maintained a high unemployment rate and had to take special steps to deal with the share of young people out of work. He nevertheless recognized the latter was a general problem in the European Union.

Andor added the EU was encouraging citizens to use its Youth Guarantee program, which ensures(through European funding) that young people will not remain jobless more than 4 months.

The European Social Fund, with a EUR 1.5 B worth budget framework for 2014-2020, could also be a source of funds for those who need to find their way into the labor market.

"It depends on Bulgaria how much of these funds will be absorbed," the Commissioner stressed.

He also voiced his concerns over the share of Bulgaria's gray economy, though admitting that many EU countries had to fight that problem.

Laszlo Andor was on a two-day visit to Bulgaria's capital Sofia to meet Prime Minister Plamen Oresharski and other government representatives.

On Monday, Andor and Oresharski discussed the future of Bulgaria's pension reform and its structural unemployment.

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Tags: Prime Minister, Plamen Oresharski, Laszlo Andor, European Commissioner for Employment, Social Affairs and Inclusion, EU Commissioner, youth unemployment, Youth Guarantee, European Social Fund, gray economy, EU funds, EU funding


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