In the next two years there should be a powerful impetus to investments. The lockdown is no surprise, everything that is related to leisure time will suffer the most. That’s what economist Lachezar Bogdanov said in The Day Begins talk show
How long the restrictions will last is of key importance, he said
“It is better to have one or two schemes for business support, instead of introducing new ones every time. The simple 60/40 payroll support scheme is working, it is an effective measure and money does go to the affected businesses. The lockdown is a problem, but it is not only for Bulgaria”, added Lachezar Bogdanov.
He added that passenger traffic in February was 87% lower and it was obvious that people were not travelling and there was a structural problem in the area of tourism. In his words, if morbidity rate decreases and vaccination progresses, the economy will not experience another shock.
“What is missing at the moment is a public debate on measures and economic policies aimed at growth, at a rapid recovery. We need to have a model and mechanism for rapid recovery, promote ideas for hiring of people, for investments,” commented Lachezar Bogdanov.
Dimitar Brankov of the Bulgarian Chamber of Commerce noted that the crisis-stricken businesses should consider all support options and consult with the Employment Agency and the Ministry of Economy, however, the algorithm in his opinion remains unclear in its general frameworks.