Economy


    • Borissov: BGN 173m in grants for 20,000 small enterprises

      Borissov: BGN 173m in grants for 20,000 small enterprises

      Small enterprises with at least 20% dip in revenue will be eligible to apply for a piece of the BGN 173m grant funding that is being provided by the EU. The money will be enough for about 20,000 businesses, while the government will seek another BGN 200-300m in support for medium-sized enterprises. The news came from Prime Minister Boyko Borissov after the European Council meeting on tackling the COVID-19 pandemic held via videoconferencing.

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    • State rolls out 4.5bn in aid for businesses and citizens

      State rolls out 4.5bn in aid for businesses and citizens

      Minister of Finance Vladislav Goranov presented the measures that are being taken in support of businesses and citizens at a briefing held at the Council of Ministers headquarters. The eight economic instruments devised by the government will be providing a total of BGN 4.5bn to help businesses, the self-employed, and people who have been forced to take unpaid leave because of the coronavirus crisis.

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    • Before end of week Bulgaria is to send application for Eurozone waiting room

      Before end of week Bulgaria is to send application for Eurozone waiting room

      Before the end of the week Bulgaria will send the documents needed to apply for membership of the European Exchange Rate Mechanism, ERM 2. This became clear from the words of Prime Minister Boyko Borissov during a briefing at the Council of Ministers dedicated to the package of financial measures aimed at coping with the economic consequences of the coronavirus epidemic. He stressed that until this moment Bulgaria has not drawn a loan.

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    • PM Borissov: Bulgaria applies for the Eurozone to overcome the crisis

      PM Borissov: Bulgaria applies for the Eurozone to overcome the crisis

      Bulgaria will not give up on its announced plans for entering the Eurozone waiting room. If we enter the waiting room now we will be able to use European aid for overcoming the crisis. This became clear from a statement of Prime Minister Boyko Borissov. He was adamant that the budget deficit will not prevent Bulgaria from applying for Eurozone accession.

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    • Borissov: Bulgaria will apply again for the Eurozone by the end of April

      Borissov: Bulgaria will apply again for the Eurozone by the end of April

      Bulgaria is planning to restart its ERM II application procedure by the end of April. This became clear from a statement made Thursday by PM Boyko Borissov. He assured that the country will make up for the delay within a period of 2-3 weeks. The premier shared that he had spoken to ECB President Christine Lagarde and Commissioner Valdis Dombrovskis, who serves as vice-president for the euro. Borissov also noted that Bulgaria is applying alongside Croatia.

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    • Russia cuts price of gas supplied to Bulgaria by 40.3%

      Russia cuts price of gas supplied to Bulgaria by 40.3%

      Bulgargaz and Gazprom Export have finalized their agreement on a 40.3 per cent reduction of the price at which Russia supplies natural gas to Bulgaria, backdated to August 5, 2019, the Bulgarian company's CEO Nikolai Pavlov told a news briefing at the Council of Ministers on Tuesday.

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    • Bulgarian-Saudi joint venture to be registered

      Bulgarian-Saudi joint venture to be registered

      Bulgaria and Saudi Arabia are about to finalize the registration in Sofia of a joint venture for development and investment, whose incorporation meeting is forthcoming. This emerged from a meeting in Riyadh between Bulgarian Deputy Agriculture, Forestry and Food Minister Yanko Ivanov and Saudi Vice Minister of Environment, Water and Agriculture Mansour bin Hilal Al Mushaiti, the Agriculture Ministry said.

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