Caretaker Economy and Industry Minister Irina Shtonova addressed the National Council of the Bulgarian Association of Industrial Capital, detailing the government’s efforts to support businesses amid global economic uncertainty. The ministry reported that during its tenure, close collaboration with employers was essential to implementing effective support measures for the industrial sector. Shtonova highlighted immediate adjustments made to support companies grappling with high electricity costs.
She noted that the initial compensation calculation, based on six months, proved inadequate, leading to a swift revision to a monthly calculation method. Furthermore, she emphasized the significance of securing European Commission approval for temporary state aid. This aid allocates €334 million over three years, specifically targeting the preservation of economic viability for energy-intensive enterprises.
To mitigate the consequences of the military conflict in the Middle East, the government has introduced several targeted measures designed to support specific sectors without triggering inflationary pressures across the broader economy. These actions include providing liquidity guarantees and deferring payments for lease agreements for transportation companies and agricultural producers, alongside postponing increases in toll fees affecting all economic sectors. The Minister stressed that maintaining open dialogue between the ministry and employers remains a top priority.
Shtonova concluded by stating that this continuous consultation process is vital for making informed and appropriate policy decisions moving forward.
Topics: #economy #ministry #employers
