Bulgarian Industrial Capital Association

The Bulgarian economy is expected to gain significantly from the country's admission to the Schengen area, with annual economic benefits estimated at 500 million leva. The Bulgarian Industrial Capital Association (BICA) expressed optimism that the removal of border controls will have an immediate impact, not only on transport companies but also on Bulgarian citizens.

Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), delivered a stark assessment of the European Union's (EU) economic performance, highlighting concerns over its lackluster growth compared to global counterparts.

CITUB leader Plamen Dimitrov predicts double-digit growth in the percentage of heating bills this winter in an interview with Nova News.

"In terms of the price of electricity, households will be protected, but in terms of gas, they will not be. Probably the heating bills will increase by a double-digit percentage," Dimitrov said.

The social partners have discussed a proposal to redesign a 60/40 job retention scheme in support of businesses and employees, Deputy Prime Minister Galab Donev told journalists on Monday after a meeting of the National Council for Tripartite Cooperation (NCTC).

The Bulgarian Association of Catering Establishments and the Association of Catering Establishments object to the actions of the caretaker government towards businesses. "Not only is there no desire for future support, but even the current support programmes have been frozen for unclear reasons," the statement reads.

Trade unions and employers have opposed the proposal of the Bulgarian Socialist Party (BSP) to reduce VAT on flour and flour products, milk, eggs and cheese from 20% to 5%, and of medicines to 9%, Focus News Agency reports.

For a fourth consecutive day, the trade registry of the Registry Agency is inaccessible due to a system crash, and the business fears data theft. It was not until last night that the Ministry of Justice, the DANS, and the prosecution broke down and launched an emergency plan of action that included a gradual recovery from Wednesday.

The idea of ​​introducing an additional 4-month parental leave will be discussed on 15 March during the Bulgarian presidency of the Council of Europe, Nova TV reported. The change could become part of the better work-life balance directive.

The High Administrative Court today annulled the government's decree that set minimum wage at BGN 460 for 2017, the Bulgarian Chamber of Commerce and Industry (BCCI) said.

The national average wage will go beyond BGN 1000 in 2017, Vasil Velev, the head of the Bulgarian Industrial Capital Association (BICA), has said.

Bulgaria is also the country where incomes have grown at the fastest pace over the past 10 years compared to the rest of the EU, Velev has told the Bulgarian National Radio.

Incomes will also jump 5-6% this year, he has predicted.