Bulgarian Industrial Capital Association

The Bulgarian economy will expand in 2017 and post an increase in sales despite the tense political environment, the head of an employers' association has said.

Political instability, however, will "decelerate inertia gathered by businesses," Vasil Velev, the head of the Bulgarian Industrial Capital Association (BICA), has told the Bulgarian National Radio.

Businessmen and representatives of the government will gather on Monday to outline five steps for stable economy at this year's first national discussion from the "Yes! To Bulgarian economy" campaign.

This is the eighth consecutive national discussion organised by daily Standart and the Confederation of Employers and Industrialists in Bulgaria (KRIB).

Bulgarian employers are planning an increase of salaries by 4-5 % in the new year.

This is shown by a study conducted for private bTV station among the members of the Bulgarian Industrial Capital Association (BICA).

The employers are moderate optimists for the new year, but uncertainty remains.

Businesses should be able to hire non-Bulgarian nationals more easily, the head of an employer union said on Monday.

Regulatory requirements obligating businesses to employ non-Bulgarians offering salaries at least three times the country's average should be removed, Vasil Velev, who heads the Bulgarian Industrial Capital Association (BICA), told the Bulgarian National Radio.

The four nationally-represented employers' organizations in Bulgaria - BIA, BCCI, BICA and CEIB - have asked the government to suspend payments above market prices for electricity generated by AES Galabovo and ContourGlobal Maritza East 3 power plants.

The heads of four employers' associations submitted tip-offs with the prosecuting authority for three types of irregularities in the energy sector.

Representatives of the business sector will take part in the work of the company boards of all state-owned energy firms, according to a decision adopted at a meeting between Prime Minister Boyko Borisov, Energy Minister Temenuzhka Petkova, Delyan Dobrev, Chair of the parliamentary energy committee, and employers' associations.

Bulgarian employers' organizations are calling in a new protest to vent their anger at a hike in power prices for industrial consumers.

They will also insist on the resignation of Ivan Ivanov, the head of Bulgaria's energy regulator.

The four major employers' associations in Bulgaria and the two trade unions have issued a list of demands triggered by the new power price hike, warning to renew and intensify protests in September unless the requirements are fulfilled.

Vasl Velev, Chair of the Bulgarian Industrial Capital Association (BICA), has argued that electricity tariffs should remain unchanged in the next pricing period.

In a Thursday interview for TV7, Velev claimed that there was no obstacle, be it of legal or economic nature, for Bulgaria's Commission for Energy and Water Regulation (KEVR) to keep electricity prices unchanged.