BICA Chairman: Political Uncertainty Hurting Businesses

Bulgarian Industrial Capital Association (BICA) chairman Vasil Vasilev. Photo by BGNES

Early parliamentary elections are never healthy for the business climate of the country, according to Bulgarian Industrial Capital Association (BICA) chairman Vasil Vasilev.

"Our hopes for Tuesday's Consultative Council at the President's office are that there will be more clarity on the political future of the country. Early elections are never good for the business, but they seem inevitable in this case.

In this scenario, the vote must take place as soon as possible. Early elections mean that a caretaker cabinet would be installed for 2-3 months, which by the time it starts working, would have to leave. After that, the new government would also require a certain adaptation period and time to make appointments. These will be months of postponed reforms.

A climate like this means that it is obviously the businesses that have to adapt to the political situation. We cannot move our industries to another country for several months, while we wait for things to be back in order."

Vasilev admitted that although things have been difficult over the past year, PM Oresharski's government has contributed with some positive policies.

"There have been improvements in regulation, reduction of administrative burdens, and increased employment during the past months."

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!