19.10.2021
Over BGN 1 billion in renewable energy projects in Bulgaria is ready to invest in a joint venture
CWP AND MERCURIA ARE LOOKING FOR PARTNERS FOR WIND AND SOLAR POWER PLANTS AND ENERGY STORAGE SYSTEMS IN OUR COUNTRY
The newly created joint venture of world leaders in green energy - CWP Europe is ready to invest over BGN 1 billion in renewable energy projects in Bulgaria. It brings together the experience and efforts of CWP, a leading renewable energy company (RES) in Southeast Europe and Australia, and Mercuria Energy Trading, one of the world's largest independent energy traders with revenues of over $ 100 billion.
CWP Europe is already working on the development of a total of 2 GW of RES capacity in Southeast Europe, worth a total of 1.9 billion euros, and has ambitions to significantly expand its plans in the coming years. Thus, the organization will significantly contribute to the provision of cheap green energy and accelerate the energy transition in four countries in the region - Bulgaria, Serbia, Romania and Ukraine.
"We see a serious opportunity in Bulgaria and the other three markets, where the huge amount of expensive and polluting coal-fired power plants must be replaced with renewable sources as soon as possible," said Dimitar Enchev, CEO of CWP Europe.
CWP has been active in the region since 2008, developing and implementing the largest wind farms in Serbia (the 156-megawatt Čibuk project) and Romania (the 600-megawatt Fântânele Cogealac). The team is already developing a portfolio of wind projects in Bulgaria with a total production capacity of 669 MW and is working on several options for solar power plants in the country. There are already two large wind projects in Northeastern Bulgaria, which are at an advanced stage and whose construction is expected to begin in two years.
"Mercuria's participation will allow us to accelerate the process by even more actively looking for suitable projects in Bulgaria to support. There are many companies and specialists in the RES sector - from the development, design, construction and operation of RES plants and we are already establishing sustainable long-term partnerships with them. Now we will have the opportunity to develop and expand them," explains Dimitar Enchev.
"We are pleased to join CWP and support the production of cheap and clean electricity in Southeast Europe," said Jean-Frasois Steeles, Vice President of Energy Transition at Mercuria. "We look forward to working with the CWP team to expand the company's portfolio and apply our expertise to optimize their strategy."
The scale of CWP Europe's investments in Bulgaria will depend on the possibility of expanding its portfolio with suitable projects for the construction of wind and solar power plants and energy storage systems in Bulgaria. Special attention will be paid to the development of still innovative for this part of Europe hybrid projects, which include the simultaneous production of wind and solar electricity and energy storage systems.
CWP Europe is convinced that the development of RES will allow in the long run to keep electricity prices stable, and thus to maintain the economic competitiveness of the region.
"The topic of electricity prices will become more sensitive in Bulgaria. Electricity from new wind and solar power plants has the lowest cost, and - market prices will fall the more wind and sun join the energy mix," explains Dimitar Enchev.
"Besides, unlike other productions, in the case of renewable energy the price does not depend on the extraction and delivery of expensive raw materials. This will ensure stability and predictability of electricity consumption of consumers and will have a positive impact on their competitiveness," he added.
Bulgaria, Serbia, Romania and Ukraine are among the most carbon-intensive energy markets, with coal still dominating the energy mix. These countries have the most polluted air in Europe and have some of the highest mortality rates due to polluted air. The decarbonisation of these markets is an urgent priority and will require thousands of megawatts of wind and solar energy.
18.10.2021
ENTREPRENEURSHIP: 7 STEPS TO REALIZING YOUR BUSINESS IDEA
You have an idea for your own company. You think you have a chance to succeed and you want to start a business.
How to do it, however? See the following 7 steps you can take:
Here are 3 main things to look for:
- the market;
- potential competitors;
- the audience to which you will sell.
Because if there is no market for your idea and products, your business will not arouse interest, and thus you will not generate sales. You will not generate them if there are not enough people to offer. If the competitors are too strong and you have nothing to differ from them, they will overshadow you from the very beginning. It is a good idea here to do a SWOT analysis to look at your own strengths and weaknesses, as well as the opportunities and threats of the environment in which you want to grow your business.
This means creating a profile that is met by the customers in front of whom you will place your goods. To do this, you should do:
- Market research;
- analysis of competitors;
- review of trends;
- Analysis of demographic data and all other surveys and surveys that can help you get to know the people to whom you will offer your product.
In this way you will learn how to advertise to your real audience, in "their language".
No matter how much money you have to start a business, they are limited. That's why it's important to plan how you spend them. What expenses will you make at the start, what expenses will you make weekly, monthly, annually. Here is the place of the forecasts for your income and the time it will take you to pay off your investment. You need to predict in general terms how long your company will need an infusion of funds to survive until the time comes when it will be able to cover its costs.
It usually includes the following components:
- description of the company;
- Market Analysis;
- organization and management;
- product lines;
- marketing and sales;
- financing;
- financial forecasts.
Even if you are not looking for external funding, this plan will help you clarify many important points before you start. This will allow you to prepare for them in advance so that once you open the business, you can focus on managing it, rather than just building its structure and figuring out how to advertise it.
No matter what you offer on the market, it should arouse the interest of customers and be good enough for them to buy it. To make sure this applies to your products, you need to test them among real consumers. An option is to ask friends and acquaintances to help you. You can also consult users on social networks. An option is to provide a prototype of your product for free use to individual target customers against their opinions about it.
Here is the place to answer the question of what you want to achieve with your business. Your answers must be achievable on the one hand, and traceable on the other. This is not about "being independent" goals. These are goals such as "X sales by the end of the year", "Regular customers in the first 6 months". These are goals that you can monitor and review.
- Register your business.
- Provide a location from which to develop it.
- Create your own website.
- Advertise your products.
- Hire the employees you need.
- Select external service providers (accounting for example), etc.
The seven steps seem a little scary (and maybe not a little) at first glance. Keep in mind, however, that each step can be divided into smaller, easier-to-perform steps. And so to be realized. Success!
18.10.2021
BACB WILL PROVIDE LOANS UNDER THE RENEWED GUARANTEE PROGRAM OF THE BULGARIAN DEVELOPMENT BANK
The Bulgarian-American Credit Bank (BACB) is the first bank to provide loans under the renewed guarantee program of Bulgarian Development Bank (BDB) in support of micro, small and medium enterprises affected by the COVID-19 pandemic, BDB announced.
BACB will start accepting requests for funding under the renewed conditions as of today, October 18.
The renewed warranty program allows Bulgarian companies to apply for shorter approval deadlines and relaxed collateral requirements.
The financing can be up to BGN 3 million, regardless of the size of the company, and BDB will cover up to 80 percent of the loan principal under the conditions specified in the program.
The loan repayment period is up to 7 years with the possibility of a grace period of up to 3 years.
Companies will now have information on whether they are approved for lending within 5 working days after providing all the necessary documents, and the absorption of funds will be possible within 10 working days.
To receive financial support under the program, companies must have completed at least 3 financial years with sales revenue, at least one of which has ended with a profit.
Micro, small and medium-sized companies from all sectors of the economy can benefit from the guarantee instrument. The condition is to carry out economic activity and to be registered in Bulgaria, as well as to suffer adverse economic consequences from the spread of the pandemic.
As security, personal guarantees are required from the beneficial owners of the companies or from related parties, as well as, if applicable, pledges of receivables from accounts under the Obligations and Contracts Act, the Special Pledges Act and through a financial collateral agreement under the Contracts Act. for financial security.
The deadline for applying for the anti-crisis measure is December 20 this year.
Since the launch of the BDB's guarantee program in May 2020, business support loans of over BGN 310 million have been guaranteed.
18.10.2021
WHAT HAPPENS IF THE COURT DETERMINES THAT YOU HAVE BEEN ILLEGALLY DISMISSED?
The court decision that has entered into force, by which the dismissal of an employee has been recognized as illegal and has been reinstated to the position held before the dismissal, is binding on the employer. Upon reinstatement of an illegally dismissed employee of the court, it is considered that the employment relationship has not been terminated. In Art. 5, para. 1 of the Ordinance on the employment record and length of service stipulates that when the dismissal of the employee is recognized as illegal or the grounds for termination of employment are corrected, the entry of these circumstances in the employment record is made by the employer who terminated the employment. In case of annulment of the dismissal with an effective court decision, the elongated stamp and the grounds for termination in the respective column shall be crossed out in the employment record book. Enter the number and date of the decision on the basis of which the correction is made, as well as the date of its entry into force. The made correction is certified with the signature and the seal of the employer according to art. 2, para. 5 of the same ordinance.
According to Art. 354, item 1 of the Labor Code (LC) the time during which the employee was unemployed due to dismissal, which is recognized as illegal by the competent authorities, is recognized as length of service from the date of dismissal until his return to work. When in the period from the dismissal to the restoration of work, the employee has meanwhile entered another job, for length of service under Art. 354, item 1 of the Labor Code, only the time during which he was actually unemployed will be taken into account, ie the time of work under the other employment relationship will be deducted from the entire period, which is considered as length of service on a general basis. Art. 351 as time of work under an employment contract.
In Art. 40, para. 4 of the Ordinance on pensions and length of service stipulates that for the period after 31 December 2002, if the duration of the length of service for persons working under an employment or official legal relationship is equal to the duration of the length of service or employment, or in the official book upon termination of the legal relationship the following text shall be entered by the insurer: “The insurance length of service is equal to the credited work (service) length of service.” If the specified entry has not been made in the employment or service book, the insurance length of service shall be established by a document in a form approved by the manager of the National Social Security Institute, issued by the insurer.
18.10.2021
WHEN AM I ENTITLED TO TAX RELIEF?
Tax relief is a legal and guaranteed opportunity to pay less tax or defer payment of part of the tax you owe. You can use a reduction of the due tax for:
- Reduced ability to work;
- Voluntary insurance;
- Insurance length of service upon retirement;
- Donations;
- Young families;
- Children;
- Disabled children;
- Cashless payments;
- Improvements and/or repairs of real estate.
The state voluntarily gives up part of its revenues in favor of taxpayers in order to encourage them to assume part of its obligations to them. For example, part of its obligation to provide security and protection to citizens.
So, if you decide to take extra care of your security and protection in a way and in forms that the state considers important to support, this will lead to a reduction in your income tax or a delay in its payment.
Among the most common and accessible forms of such protection are life insurance and supplementary pension insurance in a voluntary fund (supplementary voluntary pension insurance - SVPI).
However, the condition for using tax relief is that you do not have enforceable public obligations as of the date of filing the annual tax return.
When you have used in full the tax relief for donations, children and children with disabilities through your employer under the main employment contract and you have submitted the necessary documents to the employer, do not attach the documents again to the annual tax return.
Reduced ability to work
The tax relief for reduced working capacity is for persons with 50 and over 50 per cent reduced working capacity (Article 18 of the Personal Income Tax Act). It gives you the opportunity to reduce your tax base by BGN 7,920. You can use the tax relief including for the year of incapacity for work, as well as for the year of expiration of the validity of the expert decision in which the reduced working capacity is determined.
Voluntary insurance
The tax relief for personal contributions for voluntary insurance is up to 10% of the tax base for personal contributions for additional voluntary insurance paid during the year and up to 10% of the tax base for personal contributions for voluntary health insurance and life insurance contributions paid during the year. (Article 19 of the Personal Income Tax Act).
Taxable income from additional voluntary insurance, voluntary health insurance and life insurance is subject to final tax.
Insurance length of service upon retirement
The tax relief for personal contributions for insurance length of service upon retirement reduces your tax base with the insurance contributions paid during the year at your expense for the purchase of insurance length of service upon retirement under Art. 9a of the Social Insurance Code (Article 20 of the Personal Income Tax Act).
Donations
The tax relief for donations allows a reduction of the tax base by a total of up to 65% (Article 22 of the Personal Income Tax Act).
Up to 5% for donations for:
- health or medical establishments;
- social services for residential care, according to the Law on Social Services, as well as the Agency for Social Assistance and the Social Protection Fund under the Minister of Labor and Social Policy;
- nurseries, kindergartens, schools, colleges and academies;
- budget enterprises, religions registered in the country, specialized enterprises or cooperatives of people with disabilities and the Agency for People with Disabilities;
- The Bulgarian Red Cross;
- cultural institutes, community centers, as well as for the purposes of cultural, educational or scientific exchange under an international agreement to which the Republic of Bulgaria is a party;
- non-profit legal entities registered in the Central Register of non-profit legal entities for carrying out public benefit activities;
- Energy Efficiency and Renewables Fund;
- communes for treatment of drug addicts;
- the United Nations Children's Fund (UNICEF);
- identical or similar to the persons described above established in another Member State of the European Union or in the European Economic Area.
Up to 15% for cultural donations.
Up to 50% for donations to the National Health Insurance Fund - for activities related to the treatment of children, financed by transfers from the budget of the Ministry of Health and the Center for Assisted Reproduction.
Attach copies of documents certifying the status of the person receiving the donation and that the subject of the donation has been received to the annual tax return. When you use relief for donations made for the benefit of persons in another Member State of the European Union or the European Economic Area, you shall attach to the declaration an official legalized document certifying the status of the recipient of the donation, issued or certified by a competent authority. his translation into Bulgarian by a sworn translator.
Young families
The tax relief for young families allows a reduction of the tax base with the interest paid on the first BGN 100,000 of a mortgage loan for the purchase of a home (Article 22a of the Personal Income Tax Act). You must meet the following conditions, which you declare with the annual tax return (Appendix №10):
- the mortgage loan agreement is concluded by you as the taxable person and / or by a spouse with whom you have a civil marriage;
- at least one of the spouses has not reached the age of 35 as of the date of concluding the mortgage loan agreement;
- The mortgaged home is the only home for your family during the tax year.
The relief can be used by local and foreign natural persons established for tax purposes in a Member State of the European Union or in a country of the European Economic Area. The relief cannot be used for the income from economic activity as a sole trader.
You attach the following documents to the annual tax return:
- Document certifying the amount of interest payments made during the year on the first BGN 100,000 of the principal of the mortgage loan for the purchase of a home. It is issued by the lending bank.
- When the creditor bank is established for tax purposes in a Member State of the European Union or in a country of the European Economic Area, legalized translation into Bulgarian of the document certifying the amount of interest payments made during the year. The translation must have been done by a sworn translator.
- When the declarant is a foreign natural person established for tax purposes in another Member State of the European Union or a country of the European Economic Area, official legalized documents certifying the existence of the conditions under Art. 22a, para. 1 of the Personal Income Tax Act and their translation into Bulgarian, performed by a sworn translator. They are issued by the competent authorities of the respective foreign country.
When during the tax year both spouses have used the tax relief for young families, each of the persons owes the part of the tax corresponding to the amount of the used benefit.
Children
The tax relief for children allows a reduction of the tax base (Article 22c of the Personal Income Tax Act) by:
- BGN 200 - for one minor child;
- BGN 400 - for two minor children;
- BGN 600 - for three or more minor children.
The child for whom you will use the tax relief must by December 31 of the tax year:
- is a resident of a Member State of the European Union or of a country in the European Economic Area;
- has not reached the age of majority (the relief is used including for the years in which the child was born and has reached the age of majority);
- is not accommodated in a social or integrated health and social service for resident care at full state support.
As of December 31 of the tax year, you must be a local natural person, sole trader or foreign natural person established for tax purposes in a Member State of the European Union or in a country of the European Economic Area and be:
- a parent who is not deprived of parental rights and the child is not placed outside the family and no guardianship or trusteeship has been established for him / her; or
- a parent who has not been granted the exercise of parental rights in cases of divorce; or
- guardian or trustee; or
- a member of the families of relatives or relatives, when the child is placed for a period of not less than 6 months with relatives or friends within the meaning of the Child Protection Act; or
- foster parent, when the child is placed for long-term upbringing in a foster family within the meaning of the Child Protection Act.
You attach the following documents to the annual tax return:
- Declaration for use of tax relief for children under Art. 22c, para. 8 of the Personal Income Tax Act (sample 2005).
- When you use the tax relief as a foreign natural person established for tax purposes in a Member State of the European Union or in a country of the European Economic Area, copies of official documents proving the existence of the conditions for using the tax relief for children and their translation in Bulgarian, performed by a sworn translator.
The tax relief shall be used up to the amount of the annual tax bases under Art. 17 of the Personal Income Tax Act and provided that the other parent, respectively the other foster parent, relative or relative, will not use the reduction for the respective tax year.
When the amount of the tax relief is higher than the amount of the annual tax bases, the difference can be used by the other parent, respectively by the other foster parent, relative or relative, by submitting an annual tax return.
The tax relief can also be used by a parent who has not been granted the exercise of parental rights in cases of divorce, when the above-mentioned conditions for using the tax relief are met for him.
The tax relief is used including for the years in which the child was born and has reached the age of majority.
When the full amount of the tax relief for children is used by more than one person, each of the persons owes the part of the tax corresponding to the amount of the used relief.
Disabled children
The tax relief for children with disabilities allows a reduction of the tax base by BGN 2,000 for raising a child with a 50 and over 50 percent degree of disability (Article 22d of the Personal Income Tax Act).
The child for whom you will use the tax relief must by December 31 of the tax year:
- is a resident of a Member State of the European Union or of the European Economic Area;
- as of January 1 of the tax year the child has not reached the age of majority;
- is not accommodated in a social or integrated health and social service for resident care at full state support;
- there is an effective decision for damage of a competent authority (the relief is used, including for the year during which the type and degree of damage have been established, and for the year of expiration of the validity of the decision).
The person who will benefit from the tax relief must be a local natural person, sole trader or foreign natural person established for tax purposes in a Member State of the European Union or in a country of the European Economic Area as of December 31 of the tax year and must be:
- a parent who is not deprived of parental rights and the child is not placed outside the family and no guardianship or trusteeship has been established for him / her; or
- a parent who has not been granted the exercise of parental rights in cases of divorce; or
- guardian or trustee; or
- a member of the families of relatives or relatives, when the child is placed for a period of not less than 6 months with relatives or friends within the meaning of the Child Protection Act; or
- foster parent, when the child is placed for long-term upbringing in a foster family within the meaning of the Child Protection Act.
You attach the following documents to the annual tax return:
- Declaration for use of tax relief for children with disabilities under Art. 22c, para. 7 of the Personal Income Tax Act (sample 2006).
- When the tax relief is used by a foreign natural person established for tax purposes in another Member State of the European Union or in a country of the European Economic Area, copies of official documents proving the existence of the conditions for using the tax relief for children with disabilities, and their translation into Bulgarian by a sworn translator.
The tax relief shall be used up to the amount of the annual tax bases under Art. 17 of the Personal Income Tax Act and provided that the other parent, respectively the other adoptive parent, relative or relative, will not use the reduction for the respective tax year.
When the amount of the tax relief is higher than the amount of the annual tax bases under Art. 17 of the Personal Income Tax Act, the difference can be used by the other parent, respectively by the other foster parent, relative or relative, by submitting an annual tax return.
The tax relief can also be used by a parent who has not been granted the exercise of parental rights in cases of divorce, when the above-mentioned conditions for using the tax relief are met for him.
When the full amount of the tax relief for children with disabilities is used by more than one person, each of the persons owes the part of the tax corresponding to the amount of the used benefit.
Cashless payments
The tax relief for non-cash payments allows a reduction of the tax due by 1%, but not more than BGN 500 (Article 22e of the Personal Income Tax Act).
You can use the relief if you are an individual, under the following conditions:
- You have during the year income subject to tax on the total annual tax base;
- 100% of this income you received by bank transfer;
- You have made non-cash payments of 80% or more of this income.
You do not attach documents to the annual tax return. All you need to do is tick the appropriate box in Appendix №10 of the annual tax return.
The relief cannot be used for the income from economic activity as a sole trader.
Improvements and/or repairs of real estate
The tax relief allows domestic and foreign individuals established for tax purposes in a Member State of the European Union or a country of the European Economic Area to deduct from the tax base the labor payments made in 2021 in connection with improvements and/or repairs of one real estate in a total amount of up to BGN 2,000, under the following conditions:
- the real estate is on the territory of the Republic of Bulgaria;
- the natural person is the owner or co-owner of the real estate;
- the improvements and/or repairs have been carried out by natural or legal persons resident in a Member State of the European Union or in another country of the European Economic Area;
- the immovable residential property is not included in the activity of the enterprise, in case the person carries out economic activity as a trader within the meaning of the Commercial Law;
- the natural person has a document for the paid work in connection with the implementation of the improvements and / or the repair of the residential property. The document must be accompanied by a document for payment (fiscal receipt, when there is an obligation to issue it, a receipt, bank or other document);
- the natural person is not a person related to the person who performed the repair.
When the immovable residential property is owned by more than one natural person, the relief may be used by each co-owner, provided that the total amount of the relief used by all co-owners for the property does not exceed the maximum amount of BGN 2,000.
When a larger total amount of the tax relief for a tax year has been used in violation, each of the persons who has used the relief shall owe the part of the tax corresponding to the amount of the used relief.
The relief cannot be used for the income from economic activity as a sole trader.
15.10.2021
ROMANIANS ARE POORER THAN US
Romanians are more at risk of poverty and social exclusion than Bulgarians, according to the latest Eurostat data.
In 2020, there were 96.5 million people at risk of poverty or social exclusion in the EU, representing 21.9% of the population. Of these, 75.3 million people are at risk of poverty, 27.6 million were severely materially and socially deprived, and 27.1 million live in low- labor intensity households.
About 5.9 million (1.3% of the total population) live in households experiencing all three risks at the same time (risk of poverty, severe material and social deprivation and living in households with very low employment).
More than a quarter of the population was at risk of poverty or social exclusion in four Member States - Romania (35.8%), Bulgaria (33.6%), Greece (27.5%) and Spain (27.0%).
However, the pandemic increased, albeit with a small share, of poor Bulgarians, as in 2019 they were 33.2 percent. However, over the years the percentage of people at risk of poverty in our country is decreasing. For comparison, in 2015 such were 43.4 percent of Bulgarians.
The lowest proportions of people at risk of poverty or social exclusion are registered in the Czech Republic (11.5%), Slovakia (13.8%), Slovenia (14.3%), the Netherlands (15.8%) and Finland (15.9%).
15.10.2021
RECORD FEW PEOPLE IN EMPLOYMENT OFFICES
A record few people are registered as unemployed in the labor offices, according to data from the Employment Agency. Thus, the registered unemployment in the country is 4.7%, as the decrease compared to August is by 0.2 percent, and the decrease on an annual basis is by 2.5%.
The registered unemployed at the end of September were 154,936, which is 5,771 less than in August and 81,122 (34.4%) less than a year earlier. In September, 21,737 new unemployed people were registered in the labor offices, which is 2215 more than in the previous month, and compared to September 2020 there is a decrease of 6345. Another 931 people from the groups of jobseekers, students and pensioners also have registered with the Employment Agency during the month.
In September, 18,531 unemployed people started working. A total of 76.4 per cent of those who started work in September were employed in the real economy, most of whom were employed in the manufacturing sector - 19.3 per cent, followed by trade with 14.4 per cent, education 12.6 per cent, hotels and restaurants by 6.8 per cent, general government - 5.9 per cent, construction - 4.6 per cent, agriculture, forestry and fishing - 3.7 per cent, etc.
The declared jobs on the primary labor market in September were 17,196 or 920 (5.7 per cent) more than in the previous month and 3,890 (18.4 per cent) less compared to the same month in 2020. The share of vacancies in the real economy is declared in the manufacturing industry (29.3 percent), followed by education (18.4 percent), trade, repair of motor vehicles and motorcycles (11.3 percent), government (10.2 percent), administrative and support service activities (8 per cent), hotels and restaurants (6.2 per cent).
The most sought-after professions in business during the month are: teachers; machine operators of stationary machines and equipment; workers in the mining and processing industry, construction and transport; sellers; administrative staff for customer service; waste collection and related workers; skilled workers in the production of food, clothing, wood products and related; personnel employed in the field of personal services; staff caring for people; metallurgists, machine builders and related, craftsmen, etc.
15.10.2021
ROMANIAN DOCTORS ARE ASKING PEOPLE TO GET VACCINATED
Romanian doctors sent an open letter yesterday entitled "A Cry of Despair". They say the country's health system is overloaded, barely coping with record high levels of coronavirus infections and deaths, the Guardian reported.
The “College of physicians” in Bucharest, a non-governmental organization representing doctors in the Romanian capital, said in a letter to Romanians that the medical system had "reached the limit" and that low levels of vaccination revealed a "failure of trust" between doctors and the general public.
"We are desperate because we are losing hundreds of patients who die in Romanian hospitals every day," the letter said.
"We are desperate because, unfortunately, we have heard too many times: I can't breathe. I haven't been vaccinated."
On Tuesday, Romania reported nearly 17,000 cases of new infections and 442 deaths. According to health authorities, more than 90% of coronavirus patients who died last week were unvaccinated.
"Every day we witness tragedies: dying patients, suffering families, doctors who are at the end of their lives," the letter from Bucharest doctors said.
Pressure on hospitals prompted Romanian officials last week to suspend not urgent medical procedures for 30 days.
15.10.2021
EMPLOYEES AND SELF-EMPLOYED IN TEMPORARILY CLOSED BUSINESSES WILL RECEIVE COMPENSATION
Employees and self-employed persons in economic activities temporarily closed by an act of a state body due to Covid-19 will receive compensation in the amount of 75% of their insurance income for July for the time during which they used unpaid leave due to the imposed restrictions. This was decided by the government with the adoption of a Decree of the Council of Ministers to determine the terms and conditions for payment of this type of financial support by the end of 2021.
When the agreed working time in the month for which compensation is paid is less than the agreed working time in the month from which its amount is determined, it will be paid proportionally.
The monthly amount of the compensation of the self-insured persons is 75% of the minimum insurance income for this category determined by the State Social Insurance Budget Act for the month for which the compensation is paid.
The amounts for compensations are admissible 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.
The financial resources necessary for the payment of the compensations will be provided in advance with budgetary funds at the expense of the Ministry of Labor and Social Policy. Subsequently, the funds can be recovered from the expected additional redirection of funds for Bulgaria in 2022 under the REACT EU instrument to support the countries affected by the crisis with Covid-19.
15.10.2021
THE COUNCIL OF MINISTERS ADOPTED THE NATIONAL PLAN FOR RECONSTRUCTION AND SUSTAINABILITY OF BULGARIA
The Government adopted a Decision of the Council of Ministers approving the National Plan for Reconstruction and Sustainability of Bulgaria, according to the EU Mechanism for Reconstruction and Sustainability (MFA) and instructed Deputy Prime Minister Atanas Pekanov to present it to the European Commission in accordance with Regulation (EU) 2021/241. This was announced by the press center of the government.
The draft National Plan for Restoration and Sustainability of the Republic of Bulgaria, approved by Decision No. 411 of the Council of Ministers of 5 May 2021, was upgraded, supplemented and uploaded on the website https://www.nextgeneration.bg/ on 20 July 2021, as thus becoming accessible to the general public. During its revision, more than 70 meetings were held with representatives of the institutions of the European Commission services, ambassadors, representatives of international institutions in the country, representatives of civil society, the National Council for Tripartite Cooperation, employers and trade unions, and the Economic and Social Council, reminded by the Council of Ministers.
It was sent as a draft of the EC on July 21, 2021, as a result of which, in the period September - October 2021, a new round of negotiations was held on political and technical topics and issues. As a result of the consultations, a high degree of coherence of the document with the EC was achieved.
In order to meet the main objective of the Recovery and Sustainability Plan, namely to promote economic and social recovery and ensure resilience after the crisis caused by the COVID-19 pandemic, the proposed version of the Plan provides for 59 investments and 46 reforms, as well as a number of changes in more than half of the previously planned projects.
Key changes from previous versions of the draft Plan include: Significantly strengthening the focus on decarbonisation; Increased support for business in the introduction of financial instruments and partial replacement of previously provided grants; Increased investment focus in the social sphere (education, healthcare, social support); 13 new investment projects; Reforms in the areas of health, electricity, social affairs, the rule of law and justice, the business environment and energy.
The plan lays the foundations for a green and digital transformation of the economy in the context of the ambitious goals of the Green Deal. The green transition occupies a leading position in the Plan, concentrating 45.8 percent of the total planned expenditures. Digitalization is also present above the required by Regulation 20 percent, forming 22.5 percent of the total estimated costs.
