EC approves Bulgaria's 51 mln euro wage compensation plan for Covid-hit businesses

EC approves Bulgaria's 51 mln euro wage compensation plan for Covid-hit businesses

The European Commission (EC) said that it approved under the State aid Temporary Framework Bulgaria's 51 million euro ($57.8 million) wage compensation scheme for support of companies and self-employed persons active in sectors particularly affected by the coronavirus-induced restrictions on businesses.

The monthly wage compensation, to be granted before December 31, 2021 shall not exceed 80% of the monthly gross salary of the benefitting personnel or the income of self-employed persons, the EU's executive arm said in a statement on Tuesday.

Under the scheme, the state aid will take the form of a compensation partially covering the loss of income suffered by the beneficiaries at a rate of 75% of their social insurance income.

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