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In Bulgaria, about 90% of the business is made up of micro and small businesses., which suffered the main blow of the novel coronavirus epidemic and continues to experience difficulties.
According to numerous analyzes and forecasts, it is expected that in the coming months and year, bankruptcies to reach 21%, designated by the Consumer Protection Association. Other forecasts reach an even more severe bankruptcy of 30% of small businesses.
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The cessation of these businesses from now on will become more and more tangible, because after the resumption of the activity at the end of the quarantine, most of them barely reached 50% of the turnover before the pandemic. The inner shopping areas of the main streets are a spectacle of the masses in the big cities.
In this context, the Consumer Protection Association expects during the fall session of the National Assembly, The parliamentarians will be responsible and will approve the Law of voluntary application in second reading as soon as possible, which currently has the effect of an anti-crisis measure.
At the end of the year, the private moratorium on banks will fall, which provided the opportunity for changes in the repayment schedule of principal and interest on liabilities. The government’s anti-crisis measures are in practice mainly available for medium and large companies.
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This suggestion intercompany indebtedness to continue growing and increasing arrears, which until recently were delayed by an average of two months.
INE data show that unemployment growth remained stable in the second quarter of the year, reaching 5.9%. Analysis by the Consumer Protection Association shows that this trend will continue until the end of 2020, with a possible reversal realistically expected in the second half of 2021, provided there is no second heavy wave of Kovid-19 in the fall. . .
The state should make efforts to maintain confidence in the business environment and avoid pushing its participants into debt collection companies and dubious credit companies, the association insists.
Thousands of Bulgarians have lost their jobs, others have reduced their income or missed unpaid vacations. Voluntary performance is an opportunity to try and limit collection companies, which charge non-transparent interest, legal fees, and other costs. Once again, we will share our belief that it is they who have the least interest in introducing voluntary application.
The collection association: the absolute limitation stimulates the unscrupulous debtor
The question of what happens to liabilities for more than 10 years remains open
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