26.02.2021
The program for interest-free loans for citizens is extended
The Bulgarian Development Bank (BDB) has submitted a proposal to the Ministry of Economy to extend the program for interest-free lending to individuals who are temporarily unable to work due to the COVID-19 pandemic.
The changes are in the context of the complicated epidemic situation and aim to provide additional financial resources to meet the continuing active demand for interest-free loans under the program.
Due to reaching the guarantee limits, some of the commercial banks-partners in the program temporarily stop accepting applications from the applicants. They continue to accept new applications in the branches of Investbank and D Commerce Bank.
The program is aimed at supporting employees and self-employed persons, farmers and seasonal workers who have ceased their activities.
After the interim changes, BDB guarantees loans up to BGN 6,900 and provides an opportunity for lending to citizens who have been on unpaid leave due to the pandemic, and in the current period of imposed anti-epidemic measures are unemployed.
The maximum repayment period is 5 years, with a minimum of 6 months and a maximum of 24 months grace period. The loans are exempt from fees, commissions and penalties.
25.02.2021
WHAT BENEFITS DOES THE EMPLOYER DUE TO TERMINATION OF THE EMPLOYMENT CONTRACT
Upon termination of employment, the employee is entitled to benefits from both the state and the employer, subject to the conditions set by law.
In this consultation you will find out what benefits the employee is also entitled to by the employer, and whether they should be explicitly registered somewhere to ensure that they are paid in this way.
Upon termination of employment, the employer is obliged to issue a dismissal order or other document certifying its termination.
There is no provision in the Labor Code in which the requisites of the order for termination of employment are indicated, with the exception of the order for disciplinary punishment, when disciplinary dismissal has been realized.
From the act for termination of employment (order or other document) it should be clear which employment is terminated, why it is terminated, who terminates it, etc.
We provide sample details of the dismissal order or other document for termination of employment:
The peculiarities of the entry in the dismissal order or other document for termination of employment of the unemployment benefit (Article 222, paragraph 1 of the Labor Code) are as follows: in the order the duty of this benefit is entered under the condition - if the employee/the employee loses his job or when entering a job with a lower salary; enter the maximum period of the period of unemployment, for which the compensation is due - up to 1 month or for a longer period, if such is provided by a collective or individual employment contract.
The employer may not enter in the dismissal order the dueness of this benefit, but after the expiration of the respective term and after the employee proves his/her unemployment or employment with a lower salary to issue a “special” order, for to pay the compensation.
It should be borne in mind that the non-entry of the due benefits related to the termination of employment does not remove the obligation of the employer to pay them.
Please also note that according to the Labor Code, the benefits paid upon termination of employment are also entered in the employment record book.
25.02.2021
Interview with Mincho Koralski: PEOPLE WITH DISABILITIES ARE IN CONSTANT LOCKDOWN
BUSINESS CARD:
- Mincho Koralski graduated in law from Sofia University
- He has worked as a financial auditor, specialist and chief specialist in State Social Insurance.
- He was chairman of the Social Security and vice-chairman of the Committee on Labor and Social Affairs
- After 1990 he was Deputy Minister of Labor and Social Welfare, first in the government of Dimitar Popov, then in the government of Filip Dimitrov.
- From 1992 to 1994 he was Chief Expert and Secretary of the Union for Citizens' Business Initiative
- Member of the Bureau of the International Social Security Federation
- Elected Member of Parliament in the 37th National Assembly and Deputy Minister of Labor and Social Welfare in the government of Jean Videnov
- Since January 3, 2006 he has been the Executive Director of the Agency for People with Disabilities
- Mr. Koralski, since the beginning of this year you should have been the State Agency for People with Disabilities, what happened?
- We are not a government agency yet, this has been postponed to 2022 due to the coronavirus pandemic. Interviews had to be conducted, a new structure had to be built, and due to epidemic measures and partial lockdowns, this could not happen. That is why the Law on People with Disabilities was amended.
However, during the coronavirus closure, the entire nation understood what the lives of people with disabilities looked like. In practice, people with disabilities cannot go to a restaurant, a shop, go out freely for the rest of their lives, and the healthy have started to rebel for several months of such a life. People with disabilities are in a constant "lockdown" and lack of social contacts.
- How many and what programs have you planned for this year?
- Our work is going on so far, as every year, so this year we started our programs, which are 7 in number. For them we have funding of nearly BGN 4 million.
- Are programs for an accessible environment the focus?
- Yes, but in addition to an accessible environment, there are other important programs such as support for self-employment, support for specialized enterprises, as well as cooperatives with investment projects. The new form of support - sheltered employment for people with multiple disabilities, is also a key program for people with disabilities. We are the smallest Agency in the country, we work 26 people, and we cover a huge contingent of people and we try to be as useful as possible for everyone, that's why we make online information days to be able to inform as many people as possible.
- How many people with disabilities are there in our country?
- Over 700,000 thousand in total. According to NSSI data, people with TEMC are separate. There are many who have not passed the TEMC, but this does not mean that they are not disabled. The task of our agency is precisely to bring to light the problems of people with disabilities and to make a policy that is useful at all times, and not to act piecemeal.
- Minister Sacheva announced BGN 9 million for projects and programs for employment of people with disabilities and about BGN 3 million for an accessible environment for people with disabilities, will they cover the needs of people with disabilities?
- There is funding and it is enough. All our programs are equally necessary. It is important to make them more accessible and clear to people so that more people can benefit from them.
-How?
- On our website we publish complete information and requirements for each program, in addition we hold videoconference meetings with stakeholders, and if necessary we provide additional information and assistance to people.
- Just over 30% are working people with disabilities out of a total of about 460,000 people with permanent disabilities, why is the percentage still low, what needs to change?
- The low percentage of employees is due to the fact that people with disabilities are still seen as incapable of work, there is still a sign of equality between deficit and working capacity. Until this changes, the percentage of people with disabilities will not change. We are trying to prove that a person, despite some deficits, can work and be complete. In addition, it is important to know that some deficits can be fully compensated. My TEMP decision says 100% disabled, but that doesn't mean I can't do my job 100%. Hundreds of thousands of people are in the same situation as me.
- Do employers have concerns that people with disabilities are not full-time employees?
- Employers think that even a person with 50% reduced working capacity can not be useful. In fact, however, 50% reduced working capacity under the TEMC means that a person can do almost anything under certain conditions and they are not impossible. We have developed a National Program for People with Disabilities that helps employers both adapt jobs and create and access jobs, including training the people they hire. It is important that employers are interested, and we have the policy for that. There is money for this, but the initiative belongs to the employers. It is important, given that there is a shortage of skilled labor, to consider that people with disabilities should not be neglected, because many of them are highly qualified.
- Are small or large companies more likely to hire people with disabilities and adapt space?
- The problem is not in the adaptation of the place, it is required for people with motor or sensory problems, but these are a small part of people with disabilities. The majority are people with physiological disabilities, for example, a woman with breast cancer is also disabled, but this in practice does not prevent her from performing her duties absolutely fully. There are a number of diseases that lead to disability - diabetes, herniated discs, etc., but this disability does not mean that it impairs their capacity and potential for work.
- What has changed with the introduction of a mandatory quota principle for hiring people with disabilities?
- Many employers were interested in how many employees have TEMP decisions, but did not announce them. In practice, people brought their telco decisions to light, and in practice a large part of the quotas were filled with people who work in the company anyway, but were afraid to give TEMPs so as not to be fired as incapable of work.
- Is there anything else to be desired in terms of accessibility?
- This is a vast topic that has a lot to work on. This accessible environment is not only for people with disabilities, it is also for mothers with wheelchairs, for the elderly, the accessible environment is important for everyone. The accessible environment solves the problems of healthy people, as well as people with disabilities. It's a matter of quality of life. Examples are the new trams and buses, they are comfortable for all people and do not make them difficult, and they are also adapted for people with disabilities. An accessible environment means mobility, mobility means life.
- Social enterprises have been involved in the fight against COVID from the very beginning, does their involvement continue?
- Yes, their commitment continues at the moment. All specialized companies work, because the production of masks and specialized clothing gave the opportunity to manifest themselves and get sales of their products. At this stage, these companies have no problems.
- I ask you about the problems of future retirees with a second pension? As a former Minister of Labor and Social Policy, what do you think about the adopted changes?
- It was accepted that the pension funds must return as much money as the person has put as a face value in the respective fund. In 20 years, this money, even at 1% interest, the amount should increase, and in practice what the funds do - if you have paid BGN 20,000, they give you exactly the same, as the explanation is that inflation has supposedly reduced the money. In fact, you lose, and the funds win because they have secured their profits. Their profit is not formed by the profitability of the shares, but is formed by service fees and various other fees and commissions imposed by the companies. In the west there are such funds, but they compete, and in our country they were introduced by law, and the only winners are the pension companies.
- Are there any risks for people from being harmed?
- Unlike banks, there are no guaranteed minimums in private pension funds. Another problem, however, is that the pension from the first pillar increases, and the pension from the second - no, in practice, if it is calculated that you will receive BGN 50 as a second pension, it remains that way without moving. Too many things are still unresolved and many problems remain, which are passed on to the insured.
- What would you advise people - should they transfer their money to the National Social Security Institute or to a private fund, why?
- For myself, I think it is best for the second pension to be in the National Social Security Institute. For the second pillar, I can say that the saying - "the money is yours" is not true, because the money is ours, but someone else is playing with it. One man who was the head of social security in the United States used to say, "Don't make these private funds, because that means throwing your money in gilded trash cans."
24.02.2021
Interview with Dragomir Nikolov: The crisis has made jobseekers proactive and employers more flexible
"In 2020, despite the suspension, more than 10,000 unemployed and employed people were trained, and over 40% of them started working after completing the training. The training opportunities, although intermittent, will be active and up-to-date. in 2021", says in an interview Mr. Dragomir Nikolov, Executive Director of the Employment Agency. Consultancy Center - Berkovitsa provides his answers below.
- Mr. Nikolov, despite the pandemic, the number of people who started work is increasing, what is the reason for this positive statistic?
- 2020 was marked by the beginning of the COVID crisis, which seriously affected the labor market in the country. The closure of a number of sectors of the economy in March and April caused a wave of layoffs and, logically, an increase in the registered unemployed. With the measures taken by the government and our adequate support to provide staff for the restart of closed businesses in the summer months of 2020, a rapid recovery of employment has begun. Despite the pandemic, the Employment Agency increased the number of people who started work by 24% compared to 2019. The total number of people who started work in 2020 was 253,354 people, which means that on average more than 21,000 unemployed people found their jobs per month. For comparison, in the record year of employment in 2019, the average monthly number of people who started work was 18,000. Due to the crisis, a process of restructuring the labor market began. If the demand for labor decreased in the hotel and restaurant industry, the demand increased in the sphere of social services, healthcare, food and beverage processing and logistics. The uncertain market environment has made jobseekers more proactive and employers more flexible. Part-time work, from home, remotely are now opportunities that job seekers are increasingly taking advantage of, and often to combine work in more than one place.
- What employees were most in demand?
- At the height of the pandemic, the most sought after were the operators in the chemical and food industries, as well as in the production of non-woven products. Construction also continued to function smoothly. The new electronic and remote services that the Employment Agency has managed to introduce in the epidemic also help to provide a large number of vacancies to offer people. And the ability to profile job seekers allows us to improve the selection of candidates and direct them to the appropriate positions.
- How many are unemployed to date and what is their percentage compared to a year earlier?
- The number of registered unemployed in the labor offices at the end of January is just under 230,000. This represents 7% of the economically active population of the country in the age range 15-64. If we compare with January 2019 - the year with a record low unemployment, we report an increase in the unemployed by 9.7% or just over 20,000 people. Monitoring of the influx of labor offices last year showed that the COVID pandemic was the reason for the dismissal of 36.5% of the newly registered unemployed. The most affected are those working in hotels and restaurants - 26.7%, trade - 16.4%, transport - 16%.
- What percentage of the unemployed are seasonally engaged, has their number increased given the Covid crisis and by how much?
- Seasonal employment is a characteristic feature and not only on the Bulgarian labor market. If we go back to the fact that in June 2020 the agency reported a record of unemployed people who started working, it can be said that the pandemic has shifted the seasonality of labor supply and demand. What is specific for 2020 is that a significant factor for seasonality was not the calendar months, but the periods of opening and closing of certain economic activities. In the first lockdown, the seasonality of supply and demand appeared in May-June - the period after the state of emergency, and in the second lockdown we expect the effect on employment growth to be in March-April this year, in case of a favorable epidemic and removing current restrictions for some businesses.
- How did the measures maintain the unemployment rate and did you manage to meet the expectations of people seeking help and work?
- The main measure that the agency implements today - 60/40, is perceived by business as a chance to keep trained workers and employees during the state of emergency. Therefore, even after the start of the reception of applications, the number of unemployed began to decline sharply.
I will remind you, for example, that in the week before the start of the 60/40 measure, an average of 7,000 people registered with the labor offices every day, and the following week their number decreased to 3,600 (I.e. almost twice) and continued to decrease. The strongest restraining effect of the measure on the growth of unemployment was felt in the period from April 9 to May 13, 2020, and according to calculations of the Employment Agency, the gross effect of the measure 60/40 is estimated at 114%. This means that if it were not for the measure, the reported unemployment rate at the end of May instead of 8.3% would have been double-digit, at least 10.3%. Proof of the effectiveness of the 60/40 measure is the twice lower flow of newly registered unemployed during the second lockdown. This measure in the period March - June helped more than 10,200 companies and their almost 180 thousand workers. At the end of the year, 1/3 of them already manage to keep their staff on their own and do not participate in it. For the period October - December 2020, nearly 6,800 companies received support for their 145,000 employees.
The measure for the most affected sectors - restaurants, hotels and transport, known as 80/20, ensured the preservation of nearly 30,000 jobs. Here we must add the "Save Me" scheme, which provides income to employees on forced unpaid leave, maintaining the employment of almost 44 thousand people. Along with these measures, others are being implemented. For example, the new scheme "Employment for you", providing at least 6 months of employment for the unemployed (including nearly 11,000), projects to provide caregivers for unemployed parents, to organize training for sought-after professions and skills, as well as existing programs and employment projects funded by the state budget and European funds, covering a total of over 25,000 unemployed.
In short, I would like to say that in the absence of existing and new anti-crisis measures, the average annual unemployment rate would be 13.4% and we would start 2021 with over 200 thousand more unemployed, i.e. almost twice as much as reported at the end on December 220 thousand registered in the labor offices. So, I hope we have largely met the expectations of people looking for help and work.
The excellent communication between the colleagues in the agency with the other responsible institutions - MLSP, NSSI, NRA, the labor inspectorate and others has a very big role for this positive statistics.
- How did the agency manage to cover all the needs of the people?
- We did not close the doors for anyone, we even took over the client flow from the National Social Security Institute, and we started accepting applications for unemployment benefits. Many people know that we outsourced our services to the offices of labor offices, somewhere we even opened new receptions and continued to serve people in remote areas. The important thing is that our experts managed to combine the new volumes of work with their main professional commitments, for which I would really like to thank them. It is important for people who seek support to submit the documents with which they want support correctly, this will ensure timely and quick help.
- You have had various campaigns for training and qualifications in order to reduce the unemployed, is there interest and those wishing to acquire additional skills for work?
- As in the first lockdown and now, since November 2020, the present group classes in language, training and qualification centers and other training schools have been suspended. At the moment, in accordance with the order of the Minister of Health, face-to-face trainings and examinations can be conducted only for acquiring legal capacity by profession.
As an example, I give you the "Youth Employment" scheme. The procedure is not new and offers two options - on-the-job training in a new profession under the guidance of an experienced mentor or internship for unemployed young people in the specialty acquired with education. This scheme has proven to be very effective for young people, because over 52% of the young people involved remain with the same employer.
In 2020, despite the temporary suspension, more than 10,000 unemployed and employed people were trained, and over 40% of them started working after completing the training. Training opportunities, albeit intermittently, will be active and relevant in 2021.
- What will the Employment Agency offer this year to maintain the unemployment rate?
- Until the end of March 2021, the Employment Agency continues to implement anti-crisis measures for the sectors affected by the pandemic - namely 60/40, 80/20 and "Save me". Measures to stimulate the employment of unemployed persons "Youth Employment", "Parents in Employment", "Employment for You", as well as programs and measures of the National Action Plan for Employment for this year continue.
I would like to draw your attention once again that in a different form, according to the current epidemic situation, the provision of our services will continue to activate the unemployed and learners, as well as job seekers. The approval of the new Program "Human Resources Development 2021-2027" is forthcoming, which envisages the provision of more than BGN 2.2 billion for employment promotion, acquisition and development of skills through trainings, internships and practices, as well as activating the unemployed and non-learners.
- The National Action Plan for Employment in 2021 provides for the creation of more jobs, tell us more about it.
- In 2021, priority will be given to the discharged persons due to the epidemic situation, who are registered in the labor offices, with the youth, with the so-called NEET's (unemployed and uneducated youth), with the unemployed without qualifications, with disabilities or long-term unemployment and other vulnerable groups. The "Career Start" and "Melpomene" programs have already started. In March, the procedures for applying for employers and the unemployed to use subsidies under other programs and measures to ensure employment of the unemployed in pre-retirement age, with permanent disabilities, long-term unemployed, young people, low-educated or unskilled, parents of children up to 5 years and others.
During this year the amount for financing the labor remuneration of the unemployed persons included in subsidized employment has been increased, as it varies from BGN 500 to BGN 950, depending on the specific program or measure. With the funds from the state budget it is envisaged to provide employment to a total of 14,495 unemployed persons and training for 11,599, incl. 1200 employees in medium, small and micro enterprises.
24.02.2021
The new help under the measure "Keep me"
As of January 2021, the changes to the "Keep Me" project of the Employment Agency, which provides financial compensation to employees from closed businesses, are already in force. Thus, a new way of forming the compensation for the period January 1 - March 31 is established, taking into account the current anti-epidemic measures.
The main change is that for a working day of 8 hours, agreed in the main employment contract, the compensation will be 75 percent of the monthly insurance income for October 2020 for the respective position of the person insured under the procedure of Art. 4, para. 1, item 1 of the Social Insurance Code, in the main employment contract in the economic activities for which temporary restrictions for their implementation have been introduced by an act of a state body.
In the case of part-time work, the amount of compensation is determined in proportion to the agreed working time in the main employment contract, effective as of the date of the act of a state body.
The calculation of the compensation for the months of January, February and March 2021 is as follows: The insurance income for October 2020 is divided by the number of working days in the month for which the funds will be paid and multiplied by the number of working days, for which compensations are paid, ie the number of days during the reporting month in which unpaid leave has been used.
The given examples are with the number of working days for January 2021. The calculation for February and March 2021 is determined depending on the number of working days in the respective month.
The Employment Agency published a few easy steps and a series of examples on its website in the "Keep me" section of the measure, so that people can find out for themselves the amount of compensation for January 2021.
For additional questions and clarifications is available e-mail: zapazi_me@az.government.bg.
23.02.2021
160,000 young people neither work nor study
160,000 young people neither work nor study. This became clear from the words of the Minister of Social Affairs Denitsa Sacheva during an event of the Swiss Embassy related to the promotion of employment among the Roma population. They will be identified on a map.
"It is important to make a map to identify about 160,000 young people who are neither studying nor working. For this purpose we will use the positive experience of the Mechanism for the Reach of Children and Students in the Education System. We will also offer opportunities for validation of existing skills so that people in the communities can be fully realized in the labor market," Sacheva explained.
According to her, a serious emphasis in the Recovery and Sustainability Plan and in the Operational Program "Human Resources Development" is given to youth unemployment. The National Employment Action Plan will provide BGN 1.6 million for employment promotion programs.
"With the increase of the minimum wage, the remuneration of Roma mediators will be increased, who have a key role in identifying people and covering them on the labor market," Sacheva added.
23.02.2021
Curious: They calculated the salary that guarantees happiness
It has always been said that money does not bring happiness, but in today's world it seems that the two concepts are more closely linked than ever. Achieving financial stability, with a salary that covers basic needs, giving in to some whims and saving is essential to achieving peace of mind. But how much should this figure be?
Adecco's study of happiness in the workplace reveals the importance that the so-called emotional salary has for employees today. It has more to do with the fact that they feel comfortable in their situation and work environment than with the salary they receive.
In Spain, it was confirmed for the first time in eight editions of the above-mentioned study that the most important thing for happiness in the workplace is flexible working hours or a good work schedule, something fundamental for reconciling personal and professional life.
Second - to have a good work environment, ie the level of social relationships and communication in the work environment. Similarly, having a good boss or leader is another factor that contributes to the feeling of happiness.
Already in the fourth place in the results of this study is the salary, something that affects the personal life of workers, but does not appear in the first place in the study, that is, it is not the main thing.
It turns out that today, in order to be happy at work, a large number of Spaniards prefer to choose a position with a good schedule, good atmosphere and camaraderie, and a good boss, instead of giving up all this to get more.
However, the salary affects a person's standard of living and can therefore bring happiness. A study conducted by psychologist Andrew T. Jeb of Purdue University and published in the journal Nature Human Behavior, tries to calculate the salary that allows you to be happy.
This study, which involved 1.7 million people worldwide, concluded that global wage satisfaction needs 50,000 to 60,000 euros a year to achieve emotional well-being.
This figure varies from region to region, so that in the Western European region, the optimal income for emotional well-being is between € 48,000 and € 61,000 per year, according to GQ.
22.02.2021
A new measure in support of small companies in our country has been opened
Operational Program "Innovation and Competitiveness" announced a procedure for selection of projects BG16RFOP002-2.089 "Support for small businesses with a turnover of over BGN 500,000 to overcome the economic consequences of the COVID-19 pandemic".
The aim is to help overcome the economic consequences of the pandemic. The total amount of the grant under the procedure is more than BGN 78 million.
The new procedure in support of small business will allow only projects of applicants who were registered before January 1, 2019, worked at least 2 years before the pandemic and have at least two completed financial years before the announcement of the procedure.
The new measure is open today for application in the information system for management and monitoring of the structural instruments of the European Union in Bulgaria. The deadline for submission of proposals expires on March 15, 2021. The submission of projects is done entirely electronically.
The financial support is from the European Regional Development Fund and also includes nearly BGN 12 million in national co-financing.
More than BGN 700 million, which are part of the anti-crisis package implemented by the Ministry of Economy, have already reached Bulgarian companies. The money is under the procedures for micro and small enterprises, for the transport sector, for small and medium enterprises from the tourism sector, as well as under the joint procedure with the National Revenue Agency, under which the disbursement of funds continues.
20.02.2021
How many unemployed people are fighting for a job
8 unemployed are fighting for 1 job. This shows an analysis of the Institute for Market Economics.
The Institute for Market Economics has published a map with data on the ratio between the number of unemployed and the number of vacancies as of January 31, 2021. The indicator is important because it captures the degree of competition in local labor markets, and is sensitive to both main factors - the supply of jobs in employment offices and the demand from the registered unemployed.
It should be noted that the data from the labor offices are used here, which excludes the supply of jobs in online platforms and direct negotiation, which play an increasing role, especially in the economically developed parts of the country.
A total of 8 unemployed people in the country are fighting for 1 job. Interestingly, in January 2020 the number is the same, although there are changes in areas. The ratio is deteriorating the most in the districts of Vratsa (from 9 to 15 unemployed for a vacancy) and Haskovo (from 9 to 13 unemployed for a vacancy).
The indicators in the districts of Razgrad (from 22 to 14 unemployed for a vacancy), Pleven (from 15 to 8 unemployed for a vacancy) and Lovech (from 15 to 8 unemployed for a vacancy) are improving.
The highest number of unemployed persons per vacancy is in the districts of Vidin (18), Vratsa, Montana and Targovishte (15 each) and Razgrad (14). The smallest is in the districts of Ruse (4), the Capital (5), Silistra and Kyustendil (6 each).
Data by municipality show even greater differences. While in 64 municipalities the number of unemployed per vacancy is below the national average (8), in 12 municipalities it is over 100. The worst is the ratio in the municipality of Roman (Vratsa) with 534 unemployed per vacancy - in January only one place was discovered there, which is occupied until the end of the month.
It is noteworthy that in almost all of the 12 municipalities with the highest number of unemployed persons compared to a vacancy, the number of vacancies is a single digit number. Exceptions are the municipality of Pernik with 210 vacancies and 2019 unemployed persons and the municipality of Hayredin (Vratsa) with 55 vacancies and 525 unemployed persons at the end of January.
19.02.2021
Unemployment will spiral out of control without an expanded scope of measures
Last year, Bulgaria undertook anti-crisis policies worth 6.7 percent of the country's Gross Domestic Product for 2019.
The majority of other countries have spent much more resources. The average European expenditure is 14.3 percent of GDP, which is twice the value in Bulgaria, according to an analysis by economist Lyuboslav Kostov of the Institute for Social and Trade Union Research of CITUB, published on the Confederation's website.
The only country that has spent less than us is Romania (4 percent of GDP), with Portugal, Slovakia and Estonia close to our values. All other countries have much higher values of anti-crisis measures than ours, the analysis notes.
According to Kostov, the data show that the economic policy of the government in our country, although correct and expressed in many specific measures, is much more conservative against the background of the economic policy of other EU member states. This is strange because our country does not have a problem with government debt or a chronic deficit, as do most of these countries, which have spent several times more money as a share of GDP to overcome the effects of the crisis, the economist added.
The general assessment of CITUB is that the most successful measure for maintaining employment and income compensation was 60/40.
Since the beginning of the year, unemployment in Bulgaria, although gradual, has been on the rise, according to the analysis. In view of the unclear term and scope of the governmental measures under Covid-19, the risks of job loss remain, the CITUB said, adding that they therefore insist on the continuation of measures concerning employment and the protection of necessary.
CITUB wants the scope of these measures to be extended to all categories of workers, including non-traditional and non-standard employment, as well as the self-employed.
Otherwise, we risk getting unemployment out of control, with very severe consequences for economic recovery, the analysis said.
CITUB supports the intentions of the EC to refinance the SURE package and considers it appropriate for our country to continue to benefit from the favorable terms of the loan at least until the end of 2021.
