04.06.2021

HOW LONG IS THE MEASURE 60/40 EXTENDED?

A guarantee program of BGN 2.5 billion to help small and medium-sized businesses and self-insured persons and the continuation of the measure to maintain employment 60/40 in June and July are part of the government's new measures to restore the economy . Additional incentives to support business and workers were presented by Deputy Prime Minister Galab Donev, Economy Minister Kiril Petkov and Finance Minister Asen Vassilev at a press conference at the Council of Ministers.

We will continue the measure 60/40 for another two months within the notified amount of BGN 1.5 billion. At the moment the spent resource is a little over BGN 1.4 billion, so with the rest it can be extended.

This was announced during the briefing by the caretaker Minister of Social Affairs Galab Donev. He also pointed out that a national council for tripartite cooperation will be held next week, at which the parameters and the extension of the measure for two months will be discussed.

The country is experiencing a smooth transition to economic recovery and transition to recovery. Reduces the unemployment rate. The unemployment rate is 5.65% by June, he added.

According to him, the levels of unemployment and employment are a key criterion for economic recovery. "The numbers show that the economy is moving towards normal employment levels for the Bulgarian economy," Donev said.

"New measures continue to be developed until the end of the year, so that Bulgarian employers feel a solid support from the state and be at a competitive level with employers from EU member states," the minister added.

A guarantee program of nearly BGN 2.5 billion is being offered for lending to businesses to provide liquidity, Economy Minister Kiril Petkov announced. "It is important to introduce new working capital in small and medium-sized businesses in the country." We do not have an updated budget, which is why we decided to introduce aid through instruments in which both the state and private capital participate.

That is why we are announcing a guarantee program of over 2.5 billion for the Bulgarian economy. It will cover 50% of the banks' risk and 80% of their individual positions. Loans for small and medium-sized businesses will not need collateral," Petkov added.

Loans for small and medium-sized businesses will not need collateral - it is envisaged that the disbursement of funds will take ten days. "If you have a document that you have operated in the last 3 years, you can take up to 70% of your income in 2019 or 2020. It is envisaged that there will be no collateral for loans for a period of 7 years," he explained.