Bulgaria: What Economic Measures Does Cabinet Take to Mitigate Pandemic Impact

More than BGN 1.2 billion was allocated hitherto for employment and social inclusion for dealing with the consequences of the Kovid-19 pandemic in Bulgaria, said Minister of Labor and Social Policy Denitsa Sacheva at the meeting of the Monitoring Committee of the Operational Program "Human Resources Development", which discussed the progress and amendment of the program, the Ministry press office announced. Sacheva also said that the funds are provided equally by the state budget and the European Social Fund.

Over B GN 585 million have been transferred to this moment to companies and businesses that have applied for aid under the government's most popular measure - 60/40 to maintain the employment rate at pre-crisis levels. State compensation amounts to 60 percent of the wages and social security contributions due, and employers are required to provide the remaining 40 percent.

Currently, the businesses can apply for aid under the third version of the measure. It starts in October, and the application will be submitted until December 15.

In the current version of the measure relief is envisioned except for companies in the "hotel and restaurant sector" also for the so-called "occasional services". They have no obligation to keep seasonal workers after the end of the winter tourist season. Companies that received funds under the measure before October administrative requirements for filing documents are eased.

The option for employers and self-insured workers from the sectors "Transport", "Hotels & Restaurants" and "Tourism", whose revenues have decreased by not less than 20 percent over a certain period, is a payment of compensation worth of BGN 290/month. The measure is more popular as 80/20, because if combined with 60/40, the overall...