Some 15% of Bulgarian firms with ops halted due to coronavirus now bankrupt

Some 15% of Bulgarian firms with ops halted due to coronavirus now bankrupt

About 15% of companies which suspended operations due to coronavirus restrictions in Bulgaria have gone bankrupt, economy minister Emil Karanikolov said. 

The remaining companies have already succeeded in resuming their operations, Karanikolov said in a video file published on the website of public television BNT last weekend

According to Karanikolov, the government's job retention scheme popularly known as the '60-40 measure' is the reason why the percentage of bankrupt companies is not even higher. 

Last month, the European Commission approved Bulgaria's 1.5 billion ($833.6 million/766.9 million) levsscheme for preserving employment in the sectors most affected by confinement measures imposed over the coronavirus outbreak. Under the scheme, the government is financing 60% of wage costs, including social security contributions by the employer, of companies that would otherwise have to lay off staff to weather the shrinking of their business during the pandemic. 

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.