09.05.2014

"Large businesses may not do without small ones and vice versa. The products offered by BDB to promote exports are appropriate for both large and small businesses. They are unique for the Bulgarian market environment as they provide for services to the businesses from the pre-export period to the point of appearance on the international markets". This is what Minister of Finance Petar Chobanov said at a meeting with representatives of the corporate sector, SMEs and micro-enterprises in Targovishte. The reason for this meeting is the information campaign of the Ministry of Finance and the Bulgarian Development Bank (BDB) aimed at making local companies familiar with the new possibilities for financing offered by the Bank as well as with the whole set of instruments providing flexible and low-interest borrowing to SMEs.

BDB offers competitive products aimed at market niches that are not easily accessible to other banks or they are not interested in them, said Minister Chobanov. The Bank supports the Government's economic policies and aims to address the weaknesses related to lending. The products of BDB are also appropriate for the structure-determining enterprises, became clear after the meeting with the business in Targovishte. "One of our main tasks as a Government is the better communication with the business and this has already been achieved". VAT is reimbursed on time and by order of request, added the Minister. 

"The businesses start recovering from the stress, they feel more comfortable and think of investment. The business climate has improved every month since the start of the year and we also register improvement in construction - the part of the economy that was most severely affected by the crisis. There is rise in retail trade too". This is what Minister Chobanov said at the press conference after the meeting in Targovishte. He emphasised that "the spring forecast of the European Commission expects an increase in domestic investment, which is external trust for Bulgaria that the business recovers". Minister Chobanov repeated that the Government wanted to achieve sustainable economic growth. The purpose is to open new jobs gradually and to speed up the economic growth by launching investment projects.

Minister Chobanov announced that that concerning the revenue side of the budget, the performance of PIT and the social security contributions was going well. He expects hopeful tax revenue results but it will become clear later. "Maintenance costs are lower in the first quarter of this year than in the previous one. The purpose is to make them accessible to people across the country and to support growth", added the Finance Minister.

Asked about the measures to tackle illegal economy, Minister Chobanov said that the Fiscal Control Directorate of NRA was already operational. A lot of meetings have been held between NRA and the Customs Agency on the one hand and the Ministry of Health on the other where the strengthening of border control is discussed and we may soon expect better results that will favour Bulgarian producers, Mr. Chobanov is certain.

"The budget has currently pre-financed OP Environment by around BGN 1 billion, which clearly shows our commitment to continue the implementation of these projects", said the Finance Minister in response to a question about the financial adjustments of Programme projects.