site.btaEconomy Minister Comments on Government's Economic Policy in 2019

Sofia, December 27 (BTA) - Interviewed by BTA, Economy Minister
Emil Karanikolov said over 1,200 million leva were invested in
new plants and extensions to existing ones this year, and more
than 8,000 jobs are expected to be created in them. He noted
that most investments were made in plants which will turn out
high value-added products.

The automotive industry soaked up the largest investments.
Sizable investments were also made in metallurgy and the ICT
industry. The average value added growth rate of the ICT sector
is over 25 per cent, which attracts many large companies.

Bulgaria attracts serious investor interest as evidenced by the
applications for certification filed with the InvestBulgaria
Agency in 2019. Nearly 40 new projects with planned investments
exceeding 700 million leva are in process of certification.
Expectations are that 3,000 jobs will be created, said
Karanikolov. He stressed that the Industrial Zones Bill
envisages incentives to investors who use green energy.

Bulgaria's GDP will reach or even top a record high of 120,000
million leva this year. In the third quarter of 2019, GDP
increased by 3.7 per cent compared to a year earlier. This year
the unemployment rate hit a 30-year low. In the first ten months
 of the year alone, export increased by 4.2 per cent compared to
 January-October 2018.

The Economy Minister expects the pay rise in the public sector
and the increase in teachers' salaries to boost consumption in
2020. The minimum wage will rise from 560 leva now to 610 leva
in January.

Karanikolov also dwelled on the government's measures to promote
 business. Nearly 2,500 small and medium-sized businesses have
been supported with funds from Operational Programme Economy and
 Competitiveness 2014-2020. So far, 1,200 million leva, 45 per
cent of the programme's budget, have been paid out, and some 78
per cent of it has been contracted.

The Economy Ministry has been active in reducing the
administrative burden on companies and individuals. More than 85
 measures transforming the administrative service model were
implemented in 2019, which concern the activity of the Economy
Ministry and the second-level spending units subordinated to the
 Economy Minister. NV/DD