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We went to great lengths and fortunately colleagues from the European Banking Authority allowed the Bulgarian company to use this moratorium and postpone the payment of interest or principal on loans for the next few months while the pandemic lasts. This was stated by Prime Minister Boyko Borissov during a working meeting in the Council of Ministers with members of the government. The Minister of Economy, Lachezar Borisov, confirmed that this is an important and expected measure of the company.
“Last time, the company rescheduled more than BGN 9,000 million of its loans. I think this is one of the strongest economic measures. Thanks to the BNB colleagues who were in communication with the European Banking Authority and took This decision. At the moment, we await guidance from the relevant documents from the Association of Commercial Banks, which will be presented to the BNB for approval, “said the Minister of Economy, announced by the government press service.
Finance Minister Kiril Ananiev pointed out that the confidence of the world and European financial institutions in Bulgaria is growing a lot. “Several things have happened this year that we are honored and proud to have accomplished,” Ananiev said. He remained firm that our country is accelerating the implementation of all the measures taken as a commitment to accelerate convergence and enter the euro area. Minister Ananiev also pointed out that Bulgaria is doing the best debt issuance for this year. “We borrowed 2 billion and 500 million at the lowest levels of debt service, and this was recognized by all international financial institutions. Besides joining ERM II, you know that we also became members of the Banking Union; this is also a great recognition for Bulgaria. Last but not least, we regularly participate in the Eurogroup meetings. Our opinion is heard from the euro area member states: the Minister of Finance of the Republic of Bulgaria is present at all Eurogroup meetings, “Ananiev said.
During the working meeting, Economy Minister Lachezar Borisov also reported on progress in the liquidity measure of the sectors affected by the anti-epidemic measures, which is being implemented with the help of the ANR. “The measure is extremely fast, it is applied in a week and the funds should reach the business in a short time,” added Minister Borissov. He also confirmed that the measure briefly postponed for the so-called Large small companies with a turnover above BGN 500,000 will continue again and will be opened soon.
For his part, Deputy Prime Minister Tomislav Donchev recalled that this type of support is with European funds and added that it will be implemented through the UMIS system, with the aim of facilitating as much as possible the process and support to reach companies affected by the pandemic. The Deputy Prime Minister recalled that the European Social Fund also provides support to employees. “From the beginning of next year, other active support measures will continue. This is no reason for us to abandon our main priorities, we will continue with investment measures that help companies to improve their material base, machinery. From the beginning of next year, it will be they will introduce measures in support of innovations and advanced research, “said Deputy Prime Minister Tomislav Donchev.
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