Twice as many employers have laid off people as those who have taken advantage of the state support.

There are multiple signals for delays in the payments to the companies affected by the lockdown and the financial support does not reach the employers on time, Dimitar Brankov from BIA commented for BNT. He claimed that twice as many employers have had people laid off compared to those who have benefited from the measures.

Mr. Brankov added that some of the restrictions have been unnecessarily complicated.

Brankov called on the affected businesses to check all possibilities for support and consult with the Employment Agency and the Ministry of Economy, although the algorithm remains unclear within its general framework.

"We are launching in 20 days, after which we are closing. This could have been regulated by the law last year between the first and second epidemic wave. Had this been the case, the business wouldn't have to experience this chaos."

"It would be best to have one or two schemes; it is completely unnecessary to introduce new ones every time. The simple 60/40 design is an effective model; the business receives money from it" Lachezar Bogdanov added.

He reminded the viewers that the number of travelers in February was 87% lower, and there is a structural problem in the tourism sector. According to him, if the Covid cases decrease and the vaccination process proceeds, the economy should not have to experience further shocks.

Date: 22.03.2021

Source: Bulgarian Industrial Association

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