11.06.2021
HOW MUCH MONEY DO YOU NEED TO BE IN THE CLUB OF THE RICHEST?
How much money does it take for a person to fall into the top 1% of the world's wealth? This question is asked every year, and the definition of the exact amount remains an unsolved problem. This is because each country has its own threshold for being among the wealthiest. For example, to be a person in the top 1% of wealth in the United States requires 4.4 million dollars, while in Romania will be enough only 300,000 dollars, according to a report by consulting company Knight Frank.
It takes at least $ 30 million to run a super-rich man, an amount that is too high even for the people of Monaco, even though the kingdom has the most rich people per capita in the world. It turns out that $ 7.9 million is enough to be among the top 1% in Monaco, according to the report. Monaco is the country with the highest threshold to enter the elite club. In second place is Switzerland, where at least $ 5.1 million is needed. The United States ranks only third with $ 4.4 million, although it is home to the most super-rich people in the world.
The top ten is complemented by Singapore ($ 2.9 million), New Zealand, Hong Kong, Australia ($ 2.8 million each), Ireland ($ 2.6 million), France ($ 2.1 million) and Germany ($ 2 million).
In the UK, at least $ 1.8 million will be needed to join the club of the rich, while in Japan it will be at least $ 1.5 million.
A fortune of $ 1.4 million is needed to enter the top 1% in Spain and Italy.
In China, people with a personal fortune of at least $ 850,000 account for part of the top 1%. In Russia, this threshold drops to $ 400,000.
All Romanians with a net worth of more than $ 300,000 are part of the country's top 1% of wealth, the report said. This is the 22nd highest threshold of all jurisdictions surveyed by the consulting firm.
There are no data for Bulgaria, but if we take as a starting point the statistics for Romania and the data for GDP per capita, we can assume that the amount to fall into the top 1% of wealth in our country is in the range of 200,000 - 300,000 dollars. However, this is only a guess, as the survey does not provide information about Bulgaria, and the statistics are mainly influenced by the number of millionaires in each country.
Among the countries with the lowest threshold for joining the elite club are Brazil ($ 280,000), South Africa ($ 180,000), Vietnam ($ 160,000), Nigeria ($ 70,000), India ($ 60,000), the Philippines ($ 60,000), Indonesia ($ 60,000) and Kenya ($ 20,000).
11.06.2021
NEW BGN 55 MILLION ARE PROVIDED FOR THE COMPANIES AFFECTED BY THE ANTI-EPIDEMIC MEASURES
At the beginning of next week, the third phase of the working capital support program for the businesses affected by the anti-epidemic measures will start. New BGN 55 million are provided for the provision of working capital through grants under the Operational Program "Innovation and Competitiveness" 2014-2020. So far, nearly BGN 120 million have been paid under the first two phases of the program, added the NRA.
The third phase of the program is related to the extension of the working capital support to the companies with suspended activities or sites for the periods from 22 to 31 March 2021 or until different dates in April 2021, according to the orders of the Minister of Health. The application forms for the third phase will be submitted again electronically through the Portal for e-services of the NRA and e-service "Submission of documents for support through working capital for SMEs affected by the temporary anti-epidemic measures". The application deadline is June 22, 2021.
The NRA advises the candidates who want the verification for eligibility of the indicated codes of economic activity, according to NACE.BG-2008, to be performed according to the data from the annual reports on the activity of enterprises for 2020, to submit their reports to the NSI working capital for SMEs.
Additional explanations for the applicable application periods, deadlines and forms for participation in phase three will be available in the specialized section "Support through working capital" on the NRA website from Monday next week. Clients can also receive information and assistance by e-mail infocenter@nra.bg or on the information phone of the National Revenue Agency 0700 18 700.
10.06.2021
ROMANIA FORBIDS OFFICIALS FROM TAKING BOTH A PENSION AND A SALARY
The Romanian government has approved a bill banning the combination of a pension with a salary in the public sector, local media reported.
"At the same time, the project envisions raising the retirement age to 70 at will," said Romanian Prime Minister Florin Katsu. He specified that the bill will enter the parliament with an urgent procedure.
The normative act provides for the possibility to choose between a pension or a salary for the employees in the public sector who fulfill the conditions for retirement. If they are already retired but want to continue working in the state system, then their pension will be suspended. Also, employees in the public sector are not obliged to retire when they reach the standard retirement age, but can continue to work until the age of 70.
"They can retire at any time in the period up to the age of 70. In the public sector, the pension cannot be combined with a salary. Employees have the obligation to choose between the two within 30 days," explained Labor Minister Raluka Turkan. Romania has no money to raise pensions.
Gigi24 TV notes that there are a number of exceptions to the rule that prohibits the accumulation of pensions and salaries. These are local elected officials, parliamentarians, members of the Constitutional Court and the National Audit Office, members of the Romanian Academy and others.
09.06.2021
THE EP APPROVED THE RENEWED EUROPEAN SOCIAL FUND
The European Parliament has approved the rules for the functioning of the European Social Fund + (ESF +) until 2027. The new program with a budget of 88 billion euros focuses on helping children and young people to fight poverty and unemployment in the EU.
The fund will support access to free education, quality food and a home for children. It will also support the organization of practical traineeships and trainings for unemployed young people.
Social issues are a major concern for many. The European Social Fund + will promote the social inclusion of people who have lost their jobs and incomes, and will provide food and basic assistance to those most in need.
The European Social Fund is the EU's oldest financial instrument for improving people's job opportunities and raising their standard of living.
The EU distributes funding from the fund to Member States and municipalities. The funds go to improving employment, eliminating weaknesses in education, measures against poverty and social exclusion.
Beneficiaries are usually individual workers; young people; job seekers; people in economic difficulties.
Companies and organizations can also benefit from funding.
The renewed fund brings together a number of existing programs:
ESF + will invest in three main areas:
The fund will also support the acquisition of skills needed for new jobs related to the transition to a green economy and digitalisation.
Each Member State will need to allocate sufficient funding to tackle child poverty. Countries with high levels of child poverty will have to spend at least 5% of ESF + resources to support children in various areas, from access to free education to decent food and housing.
Countries with above-average youth unemployment must invest at least 12.5% of their resources to help young people find work.
09.06.2021
ECONOMIC AND SOCIAL COUNCIL RESOLUTION ON MEASURES TO SUPPORT ECONOMIC RECOVERY OF ENTERPRISES AND EMPLOYMENT
At its plenary session on 7 June, the Economic and Social Council adopted a Resolution on measures to support the economic recovery of enterprises and employment.
(developed on its own initiative)
Consultancy Center - Berkovitsa publishes its content:
The Economic and Social Council of the Republic of Bulgaria included in its Action Plan in 2021 the development of an opinion on "The economic consequences of the spread of COVID-19 in Bulgaria and measures to overcome them."
The plenary session, at its meeting of 28.05.2021, decided that the Conference of Presidents should prepare a draft resolution of the Economic and Social Council on measures to support the economic recovery of enterprises and employment. At its meeting on 01.06.2021, the Conference of Presidents adopted a draft Resolution of the Economic and Social Council on measures to support the economic recovery of enterprises and employment.
At the plenary session of 07.06.2021, the Economic and Social Council adopted the resolution.
2.1. To continue the targeted support for the sectors with objective difficulties and market problems, such as sector I "Hotel and restaurant", economic activities with code 49.39 "Other passenger land transport, not elsewhere classified" and 51 "Air transport" (NACE.BG-2008), introduced a new measure "75/100", which will combine the current support for the closing measures "60 to 40" and "Short-term employment support in response to the pandemic of COVID19" (BGN 290). The program aims to retain more than 35,000 jobs in these key sectors of the economy.
2.2. To finance and implement a measure to provide support to the income of employees in the amount of 75% of the insurance income, in proportion to the time during which they did not work due to part-time work, in order to keep nearly 300,000 jobs .
2.3. To continue the implementation of the project "Employment for you", which, when the set aside funds of BGN 210 million are exhausted, will be supplied with additional financial resources so that it can be implemented at least until the end of 2021.
2.4. Similar to the project "Employment for you", to develop a program to promote and maintain employment in agriculture and primary processing of agricultural products.
2.5. To develop a program "Support for restart" for self-employed persons, which will provide targeted one-time support of 50% of the decline in income for 2020 compared to 2019, but not more than BGN 5,000. the support is a decrease of at least 20% of the declared income for 2020 compared to that for 2019.
4.1. The proposed measure to facilitate and accelerate access to credit for SMEs through the OPIC "Portfolio Guarantees" operation is useful, but far from sufficient, especially compared to the measures in force in other European countries.
4.2. ESC supports the announced sectoral support measures, such as providing vouchers of BGN 500 for a vacation in the country to 30,000 students and continuing to support charter flights to and from Bulgaria with EUR 35 per seat.
ANNEX № 1
CONCEPT OF MEASURE "75/100" TO SUPPORT THE EMPLOYMENT AND INCOME OF WORKERS AND EMPLOYEES IN ENTERPRISES WITH A DECREASE IN SALES REVENUES AS A RESULT OF 19
Purpose of the measure:
Maintaining employment and supporting the income of employees in enterprises with a decrease in sales revenue (over 20%) as a result of the negative impact of COVID 19.
The measure unites the current so-called "60 to 40" and "Short-term employment support in response to the COVID-19 pandemic" (BGN 290) in respect of the hotel and restaurant sectors, economic activities with code 49.39 "Other passenger land transport" and 51.10 "Passenger air transport" (NACE.BG-2008).
Conditions for using the measure:
2.1. Objective difficulties and market problems for the activity due to the impact of the pandemic situation in sector I - "Hotels and restaurants", economic activities with code 49.39 "Other passenger land transport, not elsewhere classified" and 51.10 "Passenger air transport" from the Classification of Economic Activities ( KID - 2008)
2.2. Introduced part-time work on the basis of Art. 138a, para. 2 of the Labor Code during the period from June 1 to the end of the emergency epidemiological situation.
Amount of support:
Example: From 1 June to 30 June 2021, the employer introduces part-time work for certain workers from 8 to 6 hours. Under this measure, the company will receive support in the amount of 75% of the insurance income of each of these employees in April 2021 for the difference of 2 hours during which workers do not actually work due to the introduced part-time work, and the part of the insurance contributions at the expense of the employer for these 2 hours.
The employer is obliged within 5 working days to pay the funds received in this order to the workers and to pay the respective social security contributions.
Period of validity of the measure:
From June 1, 2021 until the end of the emergency epidemiological situation.
The application for the measure for the period is not one-time, but is month for month, with proving a decrease in net sales revenues by not less than 20 percent for each month for which it is applied.
09.06.2021
THE COMPANIES IN OUR COUNTRY ARE LOOKING FOR WORKERS, NOT BOSSES
At the beginning of May, the labor market calmed down, which was not a surprise because of the Easter holidays and the related weekends. However, after the recovery of the working rhythm, the number of ads from companies looking for new staff began to grow rapidly and in the last week of May offers increased by 25% and exceeded the level of published ads before the pandemic in March last year.
Thus, the total number of job vacancies in May exceeded 52,000, which is 22% more than in the previous month of April and 76% more if we go back a year - informs the current survey of JobTiger.
What shots are wanted
Most advertisements were published for Employees, including service personnel, and their share reached 69% of all offers in May. The analysis shows that 28% of the ads were for Experts/Specialists, and as for managers - the ads for them are 3% of the total number of new proposals.
And in May there is an increase in ads in each sector
One of the reasons for the sudden increase in the number of advertisements in the last week of May is the still increased supply of jobs in the sectors "Hotel and restaurant" and "Trade and sales", which increased by 36% and 30% respectively. This puts these industries at the forefront of job posting growth.
They are followed by the sectors "Logistics and Transport" (27%), "Manufacturing" (23%), "Health and Pharmacy" (20%), "Accounting, Auditing, Finance" (17%), "Administrative Activities" (16%), Marketing and Advertising (16%) and Construction (9%). The IT sector ranks last with 2% ad growth.
Distribution by sectors
The sectors "Trade and sales" and "Hotels and restaurants" occupy the leading positions in terms of share distribution, respectively 23% and 22% of the total number of ads.
They were followed by the Manufacturing (14%), IT (10%), Logistics and Transport (10%), Administrative (8%) and Construction (5%) sectors. %), Accounting, Auditing, Finance (4%), Health and Pharmacy (3.2%), Marketing and Advertising (2.9%) and Art (1%).
The search for staff in different cities
Half of all job offers are concentrated in the capital. Job offers in Sofia are exactly 50% of the total number, the figures for the other leading regional cities are as follows: Plovdiv (12%), Varna (11%), Burgas (5%), Ruse (3.3%) and Stara Zagora (2.9%). Together, they account for 84% of all proposals published in Bulgaria in May.
The growth of the ads on a monthly basis in each of these cities is: Sofia (18%), Plovdiv (30%), Varna (31%), Burgas (21%), Ruse (5%) and Stara Zagora (23%).
04.06.2021
Over 3800 vacancies will be offered during the campaign "Work in BG tourism"
The schedule of open meetings within the national campaign to support the tourism industry "Work in BG tourism" has already been published on the official website of the Employment Agency. In the time range from 10.00 to 14.00 every weekday from next week (June 7-11, 2021) the labor offices in the country will wait at the places indicated in the schedule unemployed people and others wishing to work in tourism to meet. with companies in this industry.
Under the specially opened tents, jobseekers will be able to talk in person with employers or get comprehensive information about the requirements and opportunities to start working in the field of restaurants, hotels and other economic activities related to tourism. The events in the regional cities will be attended by representatives of the Executive Agency "General Labor Inspectorate", who will provide visitors with advice on labor legislation.
There are currently over 3,800 vacancies in tourism, hotels and restaurants, which are offered to job seekers, and the collection of applications from employers continues. We are mainly looking for cooks and kitchen support staff, waiters, maids, bartenders, receptionists and administrators, lifeguards and others.
Current vacancies are published on the website of the Employment Agency under the heading "e-Labor Exchange" and on the website of EURES Bulgaria, where they are available to those living outside Bulgaria.
More information in connection with the campaign of the Employment Agency "Work in BG tourism" and the opportunities for participation in it can be found here.
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.
03.06.2021
THEY ARE EQUALIZING THE RETIREMENT AGE IN ROMANIA
The Romanian government has set a goal of gradually leveling the retirement age for women and men to 65, Labor Minister Raluca Turcan was quoted as saying by Adevarul.
At present, women in Romania retire at the age of 61 and men at the age of 65.
Raluca Turkan claims that apart from Romania, only Poland has a different retirement age for women and men. She said the current law provides for a plan to equalize the age at which men and women retire by 2030.
"Now the retirement age for women is 61, next year it will be more. It will increase until 2030, when the retirement age for men and women will be the same," the minister told Diggy TV 24.
03.06.2021
THE STRATEGY ENVISAGES THAT UNEMPLOYMENT IN BULGARIA WILL SHRINK TO 4% BY 2030.
The new strategic document on employment envisages measures of about BGN 10 billion from various sources
By 2030, unemployment in Bulgaria to shrink to 4%, or 0.4 percentage points lower than in 2019, as well as to achieve employment at levels from 2019 in combination with the implementation of measures to increase the quality of the workforce with a focus on the acquisition of digital skills. This is provided by the new Employment Strategy 2021 - 2030, published for public discussion.
In view of the economic and social challenges caused by the COVID pandemic, in the short term until 2024 at the forefront of the planned actions is the achievement of employment at the levels of 2019, as a result of economic recovery. At the same time, the document outlines long-term actions (until 2030) to meet the country's commitments in the field of employment, arising from the need to implement the Action Plan of the European Pillar of Social Rights.
The measures are aimed at reducing the unemployment rate, increasing the economic activity of the population and increasing the labor potential of the labor force in the country, the document reads.
Unemployment and employment
The set goals include the employment rate (20 - 64 years) to increase by 3 points. n. compared to 2019 and to reach 78% in 2030, and the unemployment rate (15 - 74 years) to decrease by 0.4 points. n. compared to 2019 and in 2030 to be 4%.
According to forecasts, after 2020 the population decline will have a negative impact on employment. In the period 2021-2030, employment is expected to decrease (by 4.7%) and in 2030 the number of employed aged 15-64 will be around 3 million. The long-term challenges related to population decline and an aging workforce , will continue to be relevant. A major change will be seen in the short-term challenges arising from the negative effects of the pandemic, such as declining employment and rising unemployment.
In the educational structure of the employed aged 15-64, the share of the employed with secondary and higher education is expected to increase, and that of the employed with primary and lower education to decrease. It is projected that in 2030 of all employed those with secondary education will reach 58.3%, those with higher education - 33.5%, and those employed with primary and lower education - 8.2%.
The expected restructuring of employment by educational characteristics is due to several factors, among which are: demographic processes related to the reduction and aging of the working age population; the overall change in the educational structure of the population, which has led to higher labor supply with higher education; the change in needs, etc.
The current structure of employment by economic activities in Bulgaria is characterized by lower than the average European shares of employees in government, education, human health and medical and social care with accommodation and social work. Given the process of convergence to the economic development of the EU Member States, the expectation is to strengthen the role of these publicly dominated economic activities and to increase the number of employees in them.
The largest increase in employment in the period 2021-2030 is expected in education by 33.2 thousand. By 18.3 thousand is expected to increase employment in human health and medical and social care with accommodation and social work. Employment in general government is expected to increase by 13.5 thousand.
The labor market
The labor market will be characterized by structural discrepancies between the education/qualification of employees and the educational/qualification requirements for employment, the forecasts also show.
There will be a surplus of employees with higher and primary and lower education, as well as a shortage of workers with secondary education. This means that some people with higher education will be employed in positions that require lower education, and people with primary and lower education will take jobs that require higher education.
In 2021, the number of people with higher education who will work in positions requiring lower education is expected to amount to 40.9 thousand, and in 2030 - to 40.6 thousand. with primary and lower education the number of employees in positions requiring higher education in 2021 is expected to be 136.2 thousand, and in 2030 - 70.1 thousand.
A permanent shortage of people with secondary education, including vocational training, is expected. The deficit of people with secondary education will gradually decrease, in 2021 it will affect 177.1 thousand jobs for which there will be no supply of the necessary human resources, and in 2030, this deficit will amount to 110.7 Thousands of people with lower or higher qualifications than the required ones will be employed in these jobs, according to the forecasts written in the strategy.
Demand and supply imbalances will decrease
Imbalances in labor supply and demand at the regional level in the long run will be gradually overcome mainly due to the general decline in employment in the country and the improvement of the educational structure of the labor force.
In 2021 the structural deficit of the labor force with secondary education in certain regions is expected to reach 63.2 thousand, and in 2030 to decrease to 34.9 thousand. The structural deficit of the labor force with higher education is expected to reach 52.5 thousand in 2021 in certain regions, and in 2030 - 17.4 thousand. These imbalances will appear only in certain areas, regardless of the presence of a structural surplus of people with higher education in the economy as a whole .
To a large extent, these imbalances will be manifested in the regions characterized by relatively lowest wage levels for the country.
The structural surplus of human resources with primary or lower education in 2021 is projected to reach 115.7 thousand in some regions, and in 2030 to decrease to 52.3 thousand. The projected regional imbalances will be accompanied by a large degree of overwork of persons with primary and lower education.
On the one hand, people with primary and lower education will mainly occupy positions requiring secondary education, for which there is a shortage of people with secondary education and there are not enough available human resources at the local level.
On the other hand, in the labor market, there is expected to be pressure from people with secondary education to take positions in the workforce with higher education (to which people with lower education could also be engaged). In this way, people with primary and lower education will also be redirected to positions requiring secondary education (which could be held by people with lower education) and which will be vacant by working people with secondary education.
The main challenges
Continued population decline in working age and an aging workforce will continue to be a major risk. These demographic processes have and will continue to have an adverse effect on the labor market. They determine the constantly declining labor supply and the contraction of employment. Thus, demographic processes have a negative impact on the potential GDP and economic growth of Bulgaria in the long run.
Low technological intensity of economic activities also remains a challenge. The last decade has seen a slow enough overcoming of the technological backwardness of the Bulgarian economy compared to the average levels in the EU 28 in terms of employment structure.
Another risk that will hinder the labor market is the structural shortage of qualified staff with secondary education and the surplus of employees with primary and lower and higher education.
Due to the technological backwardness of the economy, the structure of employment by economic activities is such that the majority of employees are engaged in economic activities: manufacturing; trade; repair of automobiles and motorcycles; construction. Demand for skilled labor in these sectors mainly concerns people with secondary education. Demand exceeds labor supply of persons with secondary education.
Therefore, in some of the jobs in some sectors intended for persons with secondary education, persons with higher education are engaged and are expected to be engaged. The largest deficits for people with secondary education are expected in economic activities characterized by relatively low wages: hotels and restaurants; administrative and support service activities; education; manufacturing industry; medical and social care with accommodation and social work without accommodation; Culture, sport and entertainment.
Forecasts point to a continued lag in the development of the education and health sectors compared to other EU Member States. The size of these sectors in Bulgaria is in the last places in the EU.
The strengthening of regional imbalances in the labor market is another remaining risk. The expected contraction in employment will affect all regions, and the observed inequalities in pay will further stimulate internal and external migration of the working population.
All this will lead to deepening of the structural discrepancies of those regional labor markets, which are characterized by relatively lower levels of wages and lag behind in their socio-economic development compared to the leading regions (Sofia-capital, Plovdiv, Varna and Burgas) in Bulgaria.
Threats to the labor market by 2030
Unemployment growth and the slow decline in the number of unemployed in the first years of the decade due to stagnant economic development and economic restructuring as a result of the epidemic is a major risk.
The threat is structural unemployment as a result of the closure or reorientation of production in implementation of anti-epidemic or measures included in the "green deal", slowdown in economic growth as a result of negative changes in domestic demand and restrictions on exports and orders, increasing pressure on wages shortage of highly qualified employment specialists in the new technology sector, delay in the start of operational programs for the use of European Structural Funds during the new programming period or failure to meet all conditions for access to these funds.
In the second half of the decade and until 2030, there may be a threat of limited economic growth due to growing skills shortages as a result of declining labor force, an aging population and an increase in emigration, as well as insufficient measures to education and training that meets the needs of the economy.
Possible threats are: the closure of traditional jobs as a result of globalization and new technologies, the lag in digitalisation, the slow adaptation of industrial relations to the increasingly diverse, globalized and unconventional labor market.
The demand for human resources with higher education and unattractive specialties from employers will increase in the medium term. Restrictions on the free movement of people due to anti-epidemic measures are also a threat to the free movement of workers, especially seasonally employed people.
Increasing labor demand for quality high-productivity jobs is a key priority. The application of new forms of work, incl. teleworking not only in the conditions of a pandemic, but also in the future, will ensure the sustainability of employment as a priority and the regulatory framework for improving flexibility and ensuring healthy and safe working conditions, development of corporate social responsibility, ensuring access to the social rights of workers in the new forms of work, prevention against undeclared work, which in turn requires minimizing unregulated work and increasing social security, the document says.
Financing
The implementation of the priorities set in the strategy requires the expenditure of significant financial resources. The set measures will be financed through various financial instruments and in addition to the funds from the state budget, funds from the Structural Funds, the EU Cohesion Fund and the European Agricultural Fund for Rural Development will be used; international sources; funds of employers, municipalities, local legal entities (donors), NGOs and other sources. This is written in the document.
In the National Development Program of Bulgaria, the funds needed for investments in human capital and promotion of employment until 2030 amount to BGN 7.7 billion.
With regard to the financing from the structural funds, the funds for the employment policy for the period 2021 - 2027 are about BGN 2.26 billion, incl. for: employment and training of unemployed persons, training of employed persons, improvement of working conditions, mobility of employed persons and implementation of joint actions with the social partners.
