Bulgaria Should Ease Administrative Burden on Business – European Commission

Bulgaria Should Ease Administrative Burden on Business – European Commission

Bulgaria should reduce the administrative burden on business, the European Commission said on Wednesday upon the adoption of a set of recommendations to member states designed to move Europe beyond the crisis and strengthen the foundations for growth.
“Bulgaria's growth and employment prospects are significantly hindered by the framework conditions for doing business. The efforts to reduce the administrative burden on companies and restore normal lending to SMEs should be emphasised,” the Commission said.
“Improving the quality and independence of the judiciary system, and effectively tackling corruption are further necessary steps to increase investor confidence,” it added.
The Commission noted that Bulgaria's public finances are strong overall. “Maintaining this sound fiscal framework is a condition for delivering on the important reform agenda which must be pursued in the coming years. Improving tax collection would allow Bulgaria to support necessary growth-enhancing expenditure,” it said.
The Commission also called on Sofia to take further steps to introduce the same retirement age for men and women and encourage workers to stay longer in the labour market.  
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