site.btaTrade Union Calls for More Active Policies in Support of Employment Amid COVID Emergency

Sofia, March 23 (BTA) - Bulgaria trails the EU in terms of the
rate of absorption of funds under the Support to Mitigate
Employment Risks in an Emergency (SURE) Facility, said the
Confederation of Independent Trade Unions in Bulgaria (CITUB),
quoting the latest data of the European Commission released on
Tuesday.

Bulgaria has absorbed as little as 500 million euro. By
comparison, Romania has absorbed eight time more or 8 billion
euro. Under the SURE facility the European Commission extends
loans to EU member states on favourable terms.

According to CITUB, the fiscal commitment to the problems of
employees in the conditions of an economic crisis could be far
greater. Already in 2020 the trade union urged for a more active
 policy because although correct in many aspects it was far more
 conservative compared with the economic policies of the other
EU countries, CITUB adds.

CITUB says: "For us it is inexplicable because Bulgaria has no
problems with its sovereign debt or chronic deficits as the
majority of these countries do and which have spent several
times more as a share of the GDP to overcome the effects of the
crisis. What's more the SURE funds are nor factored in as
deficit on the state budget balance."

In addition to the absorption of SURE funds Bulgaria has spent
the least amount in support for businesses and households as
share of the GDP, at 6.7 per cent compared with an EU average
14.3 per cent.

According to CITUB, these are missed opportunities to support
workers and their incomes at a time when they most need support.
 Just days ago Eurostat published its latest figures on
inequalities which again rank Bulgaria first in the EU in terms
of the number of inequalities.

The fiscal policy has a potential to reduce these inequalities
if Bulgaria takes advantage of all the available EU funding, the
 trade union says. NV/PP