During a meeting with the National Council of the Bulgarian Association of Industrial Capital, Caretaker Economy and Industry Minister Irina Shtonova addressed the challenges facing businesses amid global uncertainty. The Economy Ministry reported that significant efforts were undertaken in collaboration with employers to identify effective support measures for the industrial sector. Shtonova detailed initial actions taken regarding high electricity prices.
She noted that the original compensation calculation, based on a six-month period, proved ineffective, necessitating a prompt adjustment to a monthly calculation method. Furthermore, she highlighted the importance of securing temporary state aid from the European Commission, which approved EUR 334 million over three years for energy-intensive enterprises to help preserve their economic viability. To mitigate the effects of the Middle East military conflict, the government has implemented several targeted measures designed to support specific sectors without causing undue inflationary pressure.
These include providing liquidity support for transportation companies and agricultural producers, alongside guarantees that allow the deferral of lease payments and the postponement of increased toll fees across all economic sectors. The Minister emphasized that continuous dialogue between the ministry and industry representatives is paramount to sound decision-making. She stated that maintaining this dialogue with employers remains a top priority for her tenure, ensuring that policy responses effectively support the overall economy.
Topics: #economy #ministry #employers
It’s good to hear the focus is on collaboration, but the details of that partnership need to translate into clearer policy actions.