Economy Minister Discusses Growth, Investment

Economy Minister Bozhidar Loukarski said on Monday that his Ministry's goals include improving the business environment, reducing the administrative burden on businesses and individuals, making efficient and transparent use of EU aid under Operational Programme "Innovation and Competitiveness," and promoting small and medium-sized enterprises (SMEs).

Loukarski said a set of proposals to revise business registration and licensing regulations are to be prepared by the end of March.  
The Economic Growth Council under the Economy Ministry will be reactivated this year, he said. The Council will expect proposals and ideas from sectoral organizations about public-private projects that can be financed with EU money under the "Juncker" plan. This is seen as a major tool to rescue the country from the deflationary spiral.

The Ministry will make sure that entrepreneurs who have gone bankrupt for reasons beyond their control get a second chance. They will be given three years to settle their liabilities.

SMEs will be supported through measures to boost exports. To this end, the government will invigorate the operation of Bulgaria's commercial services in non-EU countries, particularly in Asia and North America.