Vasil Velev

Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), delivered a stark assessment of the European Union's (EU) economic performance, highlighting concerns over its lackluster growth compared to global counterparts.

As Bulgaria grapples with economic challenges, economists highlight the country's lagging position in the European Union, particularly in terms of purchasing power. According to recent Eurostat data, Bulgaria ranks last in the EU, a concerning indication of its economic standing.

Bulgarian employers, represented by major organizations including the Confederation of Employers (KRIB), the Chamber of Commerce (BCC), the Chamber of Commerce and Industry (CCI), and the Association of Industrial Capital (AIC), have outlined their business priorities for the year, emphasizing the need for significant reforms in the country.

The chairman of Bulgaria's Association of Industrial Capital, Vasil Velev, recently proposed a boycott of Austrian initiatives and businesses within Bulgaria due to Austria's stance against Bulgaria's Schengen entry through land borders. This call has sparked reactions across the nation, notably drawing a response from GERB leader Boyko Borissov.

Vasil Velev, Chairman of the Association of Industrial Capital in Bulgaria, expressed discontent over Bulgaria's limited acceptance into the Schengen area, highlighting the missed economic opportunities estimated at over 1 billion annually.

"Additional measures are needed to limit the damage to the Bulgarian economy from high electricity prices. The price on the free market is already a record - BGN 482 per megawatt hour,"said in"This Morning"Vasil Velev, Chairman of the Board of the Association of Industrial Capital (BAIC).

CITUB leader Plamen Dimitrov predicts double-digit growth in the percentage of heating bills this winter in an interview with Nova News.

"In terms of the price of electricity, households will be protected, but in terms of gas, they will not be. Probably the heating bills will increase by a double-digit percentage," Dimitrov said.

The social partners have discussed a proposal to redesign a 60/40 job retention scheme in support of businesses and employees, Deputy Prime Minister Galab Donev told journalists on Monday after a meeting of the National Council for Tripartite Cooperation (NCTC).

The sooner the vaccines are available on the commercial market, the better, told Nova TV Vasil Velev of the Association of Industrial Capital in Bulgaria. Our delivery sources do not have to be limited. He reminded that the EC said that Bulgaira can authorize vaccines on a national level. That's what Hungary did with the Russian vaccine.

The Bulgarian business community presented its priorities for 2021. The first national priority for business is the country's admission to the OECD, announced at a press conference Vasil Velev, Chairman of the Association of Industrial Capital in Bulgaria. Our priority remains the Schengen area and our membership in the Euro zone.