Bulgarian Council of Ministers Reports on Support Measures for Business

We have made a lot of effort and to our delight the colleagues from the European Banking Authority, allowed the Bulgarian business to use this moratorium and postpone the payment of interest or principal on loans in the coming months of the pandemic. This was stated by Prime Minister Boyko Borissov during a working meeting at the Council of Ministers with members of the government. Economy Minister Lachezar Borisov confirmed that this is an important and expected measure for business support.

"Last time, the business rescheduled over € 9 billion in loans," he said. "I believe this is one of the strongest economic measures. I thank my BNB colleagues who were in contact with the European Banking Authority and came to this decision. At the moment we expect guiding lines from the Association of Commercial Banks to be submitted to the BNB for approval", said the Minister of Economy.

Minister of Finance Kiril Ananiev pointed out that the confidence of the world and European financial institutions with regard to Bulgaria is growing. "Several things have happened this year, which we are honored and proud to have achieved," Ananiev noted.

He was adamant that our country was implementing quickly all the measures made as a commitment so that convergence could take place more quickly and let Bulgaria enter the Euro area.

Minister Ananiev also pointed out that Bulgaria is making the best debt issue for this year.

"Bulgaria borrowed 2,5 billion at the lowest levels of debt servicing and this was recognized by all international financial institutions. Besides entering ERM II, you know that we have become a member of the Banking Union - this is also a great recognition for Bulgaria. And, last but not least, we participate regularly in the...

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