site.btaBCCI President: GDP Will Increase by 3%, Average Wage Will Exceed BGN 1,000

BCCI President: GDP Will Increase by 3%, Average Wage Will Exceed BGN 1,000

Sofia, August 22 (BTA) - Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry (BCCI) made a prediction that the gross domestic product will increase by 3 per cent this year, while the average working salary will be above 1,000 leva.

High technologies, outsourcing, production of car components, pharmacy and cosmetics remain the vital sections of the economy, Simeonov told BTA. He identified administrative burden, the access to financing and the frequent changes of legislation as the main obstacles to the business.

Simeonov also said that the Bulgarian companies are not concerned with the future withdrawal of the United Kingdom from the EU. According to him, the results of the referendum can be attributed to the slow administration and the frequent interference of the European institutions thorough legislative changes.

The good standing of the banks may lead to reduction of loan interests, while the anticipated reduction of certain bank charges as of next year will boost the economy, said the BCCI President.

The business organizations keep on insisting to abolish the minimum contributory income thresholds. The employer organizations have refused to participate in the talks on the thresholds although they were expected to be launched at the beginning of August, Simeonov observed.