The 60/40 measure does not work, Bulgarian association says

In Budapest

Photo by Atanas Varbanov / Shutterstock.com

A survey by the Bulgarian Industrial Association (BIA) among 580 services and trade show enterprises has found that more than 80% of them say that the 60/40 anti-crisis measure (sharing the cost of staff salaries between the state and employers) is inefficient, BIA vice president Dimiter Brankov told Bulgarian National Radio. 

Photo by Atanas Varbanov / Shutterstock.com

Seventy percent of the respondents have cut staff, while 15% have reduced salaries. More than 63% of enterprises are expecting to recover within the space of one year.

In an interview for private national TV channel bTV, economist Rumen Galabinov stated that, to get back on their feet, businesses need compensatory measures such as gratuitous and unconditional aid.

Gratuitous, because many of the proposals by the state are for credits, and are conditional, and not all people can qualify for the aid offered, the Sofia News Agency adds.

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