15.11.2021

HOW TO GET TAX REDUCTIONS FOR A CHILD

Higher tax reliefs for children and children with disabilities will be applied once, only for the income acquired in 2021. The new amounts are adopted by the Law on the State Budget of the Republic of Bulgaria for 2021. The amount of the one-time relief for children depends on their number, as for one minor child is 4500, for two - 9000, and for three and more - 13 500.

The amount of the tax relief for children with disabilities is BGN 9,000, the National Revenue Agency clarifies. As the income tax is 10%, in practice parents with one child receive back BGN 450, for two children - BGN 900 and BGN 1,350 - for three or more children.

It is important for parents to check their tax insurance account before submitting the necessary documents for using the tax relief. If they have unpaid debts, they should repay them in order to take advantage of the tax rebate.

In order to benefit from the tax relief for children and children with disabilities through the employer under the main employment contract, the employee must submit several documents between 30 November and 31 December 2021. These are a declaration for the use of the tax relief for children and/or a declaration for the use of the tax relief for children with disabilities and a copy of a valid decision of the TEMC/NEMC of the child.

A declaration is also required that at the time of submitting the documents to the employer, the parent has no public obligations subject to enforcement. For convenience, instead of an additional declaration, the parent should note in the declaration for the use of tax relief for children that there are no enforceable public obligations.

By January 31, 2022, the employer in the main employment relationship must calculate the amount of annual income tax due with the benefit used. As the relief is great, not only will the tax due for December be reduced, but most parents will have to receive money from the treasury. In these cases, until January 31, 2022, the employer will have to pay the parent the overpaid tax, and then the amount will be refunded by offsetting from subsequent contributions to the state budget for income taxes.

If the employer has not paid the overpaid tax to his employees, the parents can use the tax relief by filing an annual tax return, even if they only have income from salaries.

In principle, each of the benefits for children or children with disabilities is used only by one parent (foster parent, close or relative).

When the amount of the relief exceeds the amount of the annual income (after deducting the insurances and the legally recognized expenses) of one parent, the difference should be used by the other parent (the other foster parent, close or relative). This is done by filing an annual income tax return from 2021. In these cases, the total amount of tax relief used by both parents, respectively foster parents, relatives or friends, may not exceed the allowable amount, according to the number of children.

15.11.2021

CEOS ARE GETTING WEIRDER. THE PROFESSION REQUIRES IT.

Popular bosses of companies from the recent past wore nicknames that betrayed aggression and brutality.

Al Cutter and Neutron Jack are aliases that suit boxers and wrestlers more than men in suits.

Today, however, you will not find such images in the corporate world. The key words are "empathy" and "inclusion," and appropriate nicknames would be something like Listening Tim or Sympathetic Satya.

But the fact that CEOs look a little more normal doesn't necessarily mean they really are. The demands on the people occupying this position are getting higher and weirder, writes The Economist.

On the one hand, the path to the top of the corporate pyramid has not changed much. It requires people to compete with each other for a long time. They must prove their financial and managerial success. And to be a successful manager, you have to be ready for a lot of work, ambitious and confident extrovert.

People who prefer to stay at home and watch reality shows, instead of going out and communicating with their clients, in most cases are not suitable for this job.

A research study conducted by Steve Kaplan of the University of Chicago and Morten Sorensen of Tuck Business University compared the profiles of 2,600 different CEO candidates collected by consulting firm ghSMART.

It turns out that most of them share similar characteristics in their professional biographies. In general, they perform much better than other professionals in what academics call "general abilities."

They also differ from other managers in the corporate world. CFOs, for example, are in most cases more analytical and focus on details. CEOs, in turn, rely on charisma or long-term strategic planning.

In addition, examining the career development of the candidates, the experts came to the conclusion that these characteristics are "self-fulfilling". This means that if a person has the qualities of a CEO, he is more likely to find himself in such a position in the future.

Today, however, companies are looking for more qualities in their future managers, rather than just a certain type of attitude or character. Those who have good "soft skills" and the ability to communicate interpersonally are more likely to be hired.

The announcements for executive directors contain requirements for cognitive skills, operational abilities and financial knowledge. But in recent years, what is increasingly common in the conditions for candidates for these positions is social skills - the ability of managers to coordinate and communicate with a large number of people.

Why is this important?

The answer, according to Stephen Hansen of Imperial College London, is related to the growing share of so-called "knowledge workers". Companies need more and more programmers, scientists working with large databases and managers who work independently of each other.

It is not the job of a CEO to tell each of them what to do, it is to ensure that each employee is aware of the company's long-term goals and how to achieve them.

In technology companies, the requirements for high communication skills are even higher. They are the most valuable tool for a director to persuade, not just command.

The broad environment in which CEOs operate also requires good "soft skills". A study by public relations firm Edelman shows that most customers and employees choose what to buy and where to work, mostly based on their beliefs and personal beliefs.

CEOs are tasked with reassuring politicians, responding to activists and mitigating attacks on corporations on social media. In this environment, social and communicative personalities would be more successful than impulsive and hot-tempered characters.

But, according to academics, it is too early to say that narcissism has disappeared from directors' offices. A study by Stanford University researchers among 182 members of corporate boards shows that 18% of them consider the CEOs of their companies to be narcissists.

By comparison, this share of the entire population of the United States is about three times lower, according to most psychologists.

Researchers have also concluded that corporations led by narcissistic leaders do better in their environmental, social and governance policies. There is hardly a better way for an egocentric to present himself as empathetic than to build an image of a savior on the planet, writes The Economist.

The requirements for CEOs are becoming more and more strange, especially in combination with each other. They should be more talented than other employees of the company, but without telling them what to do; to crush competition but at the same time rely on empathy; to listen carefully to their subordinates, but to be aggressive when necessary.

CEOs have always been a bit abnormal, to some extent. But today the important thing is not to show it.

15.11.2021

ENTREPRENEURSHIP: HOW DID A BATCH OF BIG EGGS TURN INTO AN EMPIRE OF GROCERY STORES?

Sixty years ago, Joe Colom was a young entrepreneur who ran a chain of stores called Pronto Markets, which was not doing very well.

Today he is known as Trader Joe - the founder of an empire of grocery stores in the United States.

The chain has more than 530 stores in the United States with 10,000 employees and revenue of $ 16.5 billion by 2020, according to Supermarket News and IGD.

According to Colom's memoirs published earlier in the year, this would never have happened without a small number of large eggs.

Colom, who died in February 2020 at the age of 89, tells his story in his book, which was published posthumously in June this year. It all started in 1962, when Pronto Markets was a small chain of about 10 stores in California and was experiencing difficulties in the face of competition from larger companies such as 7-Eleven, writes CNBC.

One day a farmer comes to Colom with an offer. "A man selling eggs came into my small office. He had a problem. He had too many large AA eggs."

The desperate farmer offered to sell the eggs to Colom for the same price as the regular ones, even though they were 12% bigger. The farmer had a limited quantity, which was not enough for the big supermarkets, but he would still report a significant loss if he did not sell them.

Colom willingly agreed to the deal and immediately placed ads for the discounted eggs, which he sold at the same price as regular eggs. The business has started, but more importantly, this scenario has led Colom to consider other ways in which he can exploit loopholes and market failures in terms of pricing.

"The ads we started running revolutionized Pronto Markets," Colom wrote. "They helped us generate the profits I needed, first to keep from sinking, and then to build Trader Joe's."

One such loophole, for example, was the import of wine. In 1970 - three years after opening the first store under the name Trader Joe's in Pasadena, California, Colom found a friendly importer who could import wines from the famous French region of Bordeaux at a lower price than most wholesalers who stocked other retail stores.

The petitioner allowed Colom to determine the prices at which to sell the wine to his customers. This meant that Trader Joe’s could undercut the prices of other retailers, which were set by wholesalers under the California Fair Trade Act.

"We had found a loophole in the law and passed it by truck," Colom wrote.

As Trader Joe's grew over the years, the egg experiment became "one of the cornerstones of Trader Joe's marketing," he wrote, helping him create four tests to determine which products to sell.

The items were supposed to have "high value per cubic inch, high levels of consumption, easy to handle, and something we could stand out in terms of price or range."

At some point, Colom and his team realized that US regulators had imposed severe restrictions on imports of most cheeses in order to keep local producers competitive, but there were no such restrictions on Brie cheese.

Trader Joe’s quickly became Brie’s largest importer in the U.S. and at one point even sold it at a lower price than Velveeta cheese. At a later stage, the company used the same principles with products such as coffee beans and maple syrup, buying the syrup in cans of 50 gallons (190 liters) from a cooperative in Quebec.

In his memoir, Colom describes the large eggs he sells at Pronto Market as "our first breakthrough in product knowledge."

It definitely turns out that he was not the last.

15.11.2021

INFLATION REACHED 6% IN OCTOBER

6% annual inflation was registered in October. This is the highest value of the indicator since the beginning of 2009. In just one month, compared to September, the increase is 1.8 percent, according to data from the National Statistical Institute.

On a monthly basis there is an increase in food, beverages, medicines, clothing, fuels, incl. coal and firewood. In clothing and footwear, the price increase exceeds 8 percent. For individual types of gasoline the increase is about 4%.

The price of the central gas supply is 26.5% higher. In different food groups, the increase in the price of dairy products, as well as some types of meat and vegetables, is impressive. Coffee and tea are also more expensive than in September. On an annual basis, inflation reaches 6%. From the beginning of the year until now - 5.4 percent.

According to the updated autumn forecast of the Ministry of Finance, by the end of the year the total price increase will be 4.5%.

Meanwhile, the finance ministry has offered to sell half a billion levs of government securities.

If the issue is approved in the proposed volume this time as well, the total debt from the beginning of the year will be BGN 3.3 billion with an annual limit of BGN four and a half billion.

15.11.2021

UNEMPLOYMENT IS FORECAST TO DECLINE BY 2024

Unemployment will continue to decline until 2024, according to the Ministry of Finance.

The assessment is recorded in the updated version of the autumn economic forecast.

It states that from 5.5 percent this year the ratio will reach 4.5 percent at the end of the forecast period.

The Ministry of Finance points out as the main factors for reducing unemployment the expectations for reducing the negative effect of the pandemic on the economy from next year to 2024, as well as the positives of the National Recovery and Sustainability Plan. Nevertheless, the employment estimate for next year has been revised minimally - by 0.02 percentage points downwards, as a possible optimization of the state administration is envisaged.

For the years 2023 and 2024, the demographic effect of the aging population on the labor market will be felt.

Demand for labor will support household incomes, although purchasing power may be limited next year due to inflation. It is expected to be 4.2 percent annually.

Economic growth next year will be 4.6 percent, and the ministry sees the pandemic and external factors as the main risks to its forecast. The forecast was made with the assumption that from next year there will be projects under the recovery plan.

15.11.2021

UNEMPLOYMENT STAYS AT RECORD 4.7%

The level of registered unemployment in the country remained unchanged in October, remaining at a record low of 4.7 percent, according to data from the administrative statistics of the Employment Agency, said the press center of the Agency.

The decline on an annual basis is by 2.2 percentage points. Compared to the end of October 2019, which is generally a record in terms of employment growth, the unemployment rate also decreased significantly - by 0.9 points.

The registered unemployed at the end of October were 155,263, which is only 327 more than in September and 72,646, or 31.9 percent, less than a year earlier. In October, 25,332 new unemployed people registered with the labor offices, which is 3,595 more than in the previous month, and compared to October 2020 there is a decrease of 7,047 people. Another 575 people from the groups of jobseekers, students and pensioners also registered with the Employment Agency during the month.

In October, 15,319 unemployed people started working. The data from the administrative statistics of the Employment Agency report a decrease in their number by 3212 compared to September and by 7726 compared to the same month of the previous year, which corresponds to the reduced number of registered unemployed. Another 238 people from the groups of pensioners, students and employees have found their new jobs through the employment offices.

A total of 76 percent of those who started working in October are employed in the real economy, most of them employed in the manufacturing sector - 20.8 percent, followed by trade - 15.8 percent, hotels and restaurants - 7, 3 per cent, public administration - 5.6 per cent, education - 5.5 per cent, construction - 5.3 per cent, administrative and support service activities - 4.3 per cent, etc.

A total of 3670 unemployed people from the risk groups were employed in subsidized jobs during the month - 960 under employment programs and measures, and 2710 - under schemes of the operational program "Human Resources Development" (OP HRD). The "Employment for You" scheme under the HRD OP, which started in September 2020 as an anti-crisis measure, has provided employment to just over 41,000 unemployed, and only in October employment contracts were concluded with 1603 new people without a livelihood.

The provision of funds under the already well-known anti-crisis measure 60/40 continues, and with CMD № 322 from October 2021 its term was extended until the end of the year. From October 12, when the new procedure began, until the end of the month, labor offices have approved 1,320 applications from employers to keep the jobs of nearly 42,000 people who worked in August and September.

The number of jobs advertised on the primary labor market in October was 11,755, or 5,441 less than in the previous month and 8,068 less than in the same month in 2020, which is typical for the autumn-winter season. The largest share of vacancies in the real economy is declared in the manufacturing industry (29.3 per cent), followed by trade, repair of motor vehicles and motorcycles (14.7 per cent), administrative and support service activities (10.4 per cent), public administration (8 per cent). per cent), hotels and restaurants (7.3 per cent) and education (7.1 per cent).

The most sought after business professions during the month are: machine operators of stationary machines and equipment; builders; sellers; workers in the mining and processing industry, construction and transport; waste collection workers; metallurgists, machine builders (and related) and craftsmen; skilled workers in the production of food, clothing, wood products; drivers of motor vehicles and mobile equipment; staff caring for people; economic and administrative specialists.

12.11.2021

BULGARIA'S EXPORTS TO THE EU AND THIRD COUNTRIES INCREASED BY OVER 22% IN THE FIRST NINE MONTHS

During the period January - August 2021, the export of goods from Bulgaria to the EU increased by 23.5% compared to the same period in 2020 and amounted to BGN 28.795 billion. Bulgaria's main trade partners are Germany, Romania, Italy, Greece, France and Belgium, which account for 69.6% of exports to the bloc's countries, according to data from the National Statistical Institute (NSI).

In August 2021, exports to the EU increased by 26.6% compared to the same month of the previous year and amounted to BGN 3.537 billion.

In the period January - August 2021 in the export of goods from Bulgaria to the EU, distributed according to the Standard Foreign Trade Classification, the highest growth compared to the same period in 2020 was observed in the sectors "Animal and vegetable fats, oils and waxes origin" (136.4%) and "Unprocessed (raw) materials unfit for human consumption (excl. fuels)" (28.4%). A decrease was observed only in the sector "Soft and alcoholic beverages and tobacco" (13.8%).

Imports of goods to Bulgaria from the EU in the period January - August 2021 increased by 25% compared to the same period in 2020 and amounted to BGN 29.026 billion (at CIF prices). The largest is the value of goods imported from Germany, Romania, Italy, Greece, the Netherlands and Hungary.

In August 2021 the imports of Bulgaria from the EU countries increased by 23% compared to the same month of the previous year and amounted to 3.475 Billion BGN.

In the import of goods from the EU, distributed according to the Standard Foreign Trade Classification, in the period January - August 2021 the largest increase compared to the same period of the previous year was reported in the sector "Fats, oils and waxes of animal and vegetable origin" (121.8%). No decline was observed in any of the sectors.

The foreign trade balance (exports FOB - imports CIF) of Bulgaria with the EU in the period January - August 2021 is negative and amounts to BGN 231 million.

During the period January - September 2021, exports of goods from Bulgaria to third countries increased by 20.3% compared to the same period in 2020 and amounted to BGN 16.727 billion. Bulgaria's main trade partners are Turkey, China, the United States, Serbia, the United Kingdom, the Republic of Northern Macedonia, Ukraine and the Russian Federation, which account for 57.9% of exports to third countries.

In September 2021 the exports of goods from Bulgaria to third countries increased by 18.8% compared to the same month of the previous year and amounted to 2.029 Billion BGN.

During the period January - September 2021 in the export of goods from Bulgaria to third countries, distributed according to the Standard Foreign Trade Classification, the largest growth compared to the same period in 2020 was observed in the sectors "Mineral fuels, oils and similar products" (37.3%) and " Unprocessed (raw) materials, unfit for consumption (excluding fuels)”.

A decrease was observed only in the sector "Soft and alcoholic beverages and tobacco" (17.5%).

Imports of goods to Bulgaria from third countries in the period January - September 2021 increased by 27.2% compared to the same period in 2020 and amounted to BGN 21.685 billion (at CIF prices). The largest is the value of goods imported from Turkey, the Russian Federation, China and Ukraine.

In September 2021 the imports of goods in Bulgaria from third countries increased by 16.2% compared to the same month of the previous year and amounted to 2.429 Billion BGN.

In the import of goods from third countries, distributed according to the Standard Foreign Trade Classification, in the period January - September 2021 the largest increase compared to the same period in 2020 was reported in the sectors "Mineral fuels, oils and related products" (63.4 %) and "Miscellaneous manufactured articles nec" (31.6%). No decline was observed in any sector.

The foreign trade balance (exports FOB - imports CIF) of Bulgaria with third countries in the period January - September 2021 is negative and amounts to BGN 4.957 billion.

In September 2021, the foreign trade balance (exports FOB - imports CIF) with third countries was also negative and amounted to 400 Million BGN.

In the period January - September 2021 a total of goods worth BGN 49.468 billion were exported from Bulgaria, which is 22.4% more than in the same period of 2020. In September 2021 the total exports of goods amounted to 5.975 billion and increased by 22.3% compared to the same month of the previous year.

During the period January - September 2021, a total of BGN 54.871 billion worth of goods were imported into the country (at CIF prices), or by 26% more compared to the same period of 2020. In September 2021, the total imports of goods increased by 22,9% compared to the same month of the previous year and amounts to BGN 6.59 billion.

The total foreign trade balance (exports FOB - imports CIF) was negative in the period January - September 2021 and amounted to 5.403 billion levs. In September 2021 the total foreign trade balance (exports FOB - imports CIF) was also negative and amounted to 614.4 Million BGN.

11.11.2021

WHY THE EUROPEAN COMMISSION LOWERED THE FORECAST FOR BULGARIA: COMMENT OF THE ECONOMIST

The slowdown in the growth of Bulgaria's economy, forecast today by the European Commission, shows the existence of systemic or structural distortions in Bulgarian economic policy. This was commented to BTA by Dr. Shteryo Nozharov, a lecturer at the University of National and World Economy and an economic adviser at the Bulgarian Industrial Association.

According to the EC's autumn economic forecasts published today, Bulgaria's economic growth for 2021 is expected to be 3.8 percent. In its July report, the European Commission set a rate of 4.6 percent for our country this year.

According to the economist, the situation in 2021 would be repeated if a stable government is not formed now and a budget for 2022 is not adopted before it begins. If monetary and fiscal macroeconomic policies remain so timid and inertial, I am also pessimistic that in 2022 we will achieve GDP growth of over 4 percent in the conditions of a recovering Europe, the economist commented.

According to Dr. Nozharov, the eurozone economy is growing and will grow faster than expected, as it is recovering effectively from the recession caused by the pandemic. He cites data from the European Commission, according to which the gross domestic product in the 19 countries sharing the euro will grow by 5 percent this year (compared to 4.3 percent so far - May forecast) and is expected to grow by 4.3 percent in 2022 and 2.4 percent in 2023. Against this background, Bulgarian GDP, which is much lower than the average for euro area member states and in the position of catching up, instead of growing much faster (due to the so-called beta-convergence), slows down from a projected 4.6 percent for 2021 to 3.8 percent, the expert commented and added that this delay indicates the presence of systemic or structural distortions in Bulgarian economic policy.

"The easiest explanation for them is the exogenous (external) influence of COVID, but is it really so? The pandemic is spreading globally, it also affects the eurozone countries," the economist said. Therefore, in his words, Bulgaria can hardly use the apology for force majeure circumstances in its economy. He pointed out that GDP growth of 3.8 percent in terms of budget deficit is a real growth of about 1.9 percent.

The reasons for these expectations for Bulgaria's economic growth can be found in the turmoil in macroeconomic policy in the last year.

In the first place, the economist puts the impossibility of conducting neither monetary policy - because of the currency board (currency board), nor fiscal policy - because of the lack of a legislature (parliament). In this situation, our economy has been moving by inertia for almost a year, said Nozharov.

The second reason, according to the economist, is low direct investment.

"Nobody wants to invest in the medium and even short term in an economy whose energy base is mainly based on fossil fuel energy. As early as 2025, which is only a few years away, the EU will stop the possibility of state aid in this sector. And energy is a major input for industry, transport and almost the entire economy. Here we are not even talking about a horizon of 2030, but of 2025, "the economist commented.

A third factor in the reduced growth forecast for the Bulgarian economy, according to Nozharov, is the lack of reforms in the healthcare sector, as well as in social security, which has reduced the possibility of a flexible response during the pandemic.

"The response to the health crisis remains ineffective and makes Bulgaria's investment bad due to its leading position in the world mortality rankings," the economist noted.

Another reason for the reduced forecast for Bulgaria is inflation. Initially, it was seen as a sign of recovery and not as a sign of starting moderate stagflation (and in a budget deficit), which led to a wrong reaction to it, which instead of stimulating supply, began to stimulate demand, the expert commented. According to him, partial stimulation of employment is not stimulation of supply. Nozharov reminded that BIA had already warned about this on its website. According to Nozharov, this wrong assessment has worsened the situation.

"Thus, rising prices will reduce consumption, and the lack of private investment in the manufacturing sector will be further exacerbated by inflation-constrained consumption," the economist said.

According to Nozharov, the mixed signals for tax preferences and income indexation have hindered the normal economic rhythm and are also among the reasons for the lower assessment of economic growth. These signals have led both consumers and producers to expect a comprehensive overhaul of both tax policy and social transfers, which has led to caution in investment and consumption, the expert added.

According to him, the negative effects of the revised assessment of our growth should include the expectations for a deficit in 2022, which have begun to confuse investors, as well as the growing shortening of the maturity of the issued debt.

11.11.2021

THE EC FORECASTS GDP GROWTH FOR BULGARIA BY 3.8% IN 2021

The EU economy is recovering from the recession caused by the pandemic faster than expected. As vaccination campaigns progressed and restrictions were gradually lifted, growth resumed in the spring and continued unabated in the summer, thanks to the reopening of the economy, the EC said.

Over the forecast period, the EU economy is expected to continue to grow despite the growing challenges and to achieve growth rates of 5%, 4.3% and 2.5% in 2021, 2022 and 2023 respectively. The forecast depends largely on two factors: the development of the COVID-19 pandemic and the pace at which supply adapts to the rapid recovery in demand after the reopening of the economy.

Regarding Bulgaria, the forecast is for an increase in real GDP by 3.8% in 2021, by 4.1% in 2022 and 3.5% in 2023.

EU labor markets have improved significantly thanks to easing restrictions on consumer-oriented activities and reducing the unemployment rate. Unemployment in the EU is expected to fall from 7.1% this year to 6.7% and 6.5% in 2022 and 2023, respectively. In Bulgaria, it is expected to be 5.1%, 4.6% and 4.4% over the three years.

Better growth prospects point to lower deficits in 2021 than expected in the spring.

Temporary price pressures worldwide are leading to inflation, the highest level in ten years. This sharp rise in inflation is mainly due to the sharp rise in energy prices, but also appears to be linked to a wide range of economic adjustments since the pandemic, suggesting that the current high levels are largely temporary. In Bulgaria, inflation is expected to reach 2.4% in 2021, 2.9% in 2022, and then decrease to 1.8% in 2023.

Although the impact of the pandemic on economic activity has diminished significantly, COVID-19 has not yet been defeated and recovery depends to a large extent on the development of the disease both inside and outside the EU. Uncertainty and risks around growth prospects remain very high.

11.11.2021

60,000 WILL KEEP WORKING WITH THE NEW DESIGN OF THE MEASURE "KEEP ME +"

The Employment Agency starts accepting applications for compensation for maintaining employment under the project "Keep me +" from today. The new design of the measure will support the preservation of about 60,000 jobs for employees and the self-employed in the economic activities temporarily closed by a state body due to Covid.

They will be entitled to receive funds in the amount of 75% of their insurance income for July for the days during which they used unpaid leave due to the imposed restrictions. Compensation will be paid from the date of issuance of the order for unpaid leave, but not earlier than September 7 and not later than December 31, 2021. The maximum period for which this type of support can be received is 90 days.

Where the agreed working time in the month for which compensation is paid is less than the agreed working time in the month in which the amount is determined, it shall be paid proportionately.

The amounts for compensations are eligible from the date of issuance of the order for unpaid leave for the employees or the date of the act of the state body for the self-insured persons, but not later than December 31, 2021.

Parents who are on unpaid leave and receive monthly targeted assistance for a child up to 14 years studying online are not entitled to compensation under the Keep Me + project.

Applications for inclusion in the new design of the measure " Keep me +", as well as the annexes to it are submitted only through an electronic platform by employers whose employees want to receive compensation, and by self-insured. The platform is available here.

Detailed information about the conditions of the Project can be found on the official website of the Employment Agency - here, as well as on the information boards in the labor offices in the country.

"Keep me +" is implemented with the financial support of the Operational Program "Human Resources Development" 2014-2020, as well as the financial mechanism REACT-EU, and by Decree of the Council of Ministers № 328 of 14.10.2021. The amount of the grant financial assistance under the Project is BGN 100 million.