site.btaCaretaker Finance Minister Meets Representatives of Bulgarian Construction Chamber

Caretaker Finance Minister Meets Representatives of Bulgarian Construction Chamber
Caretaker Finance Minister Meets Representatives of Bulgarian Construction Chamber
A snapshot from the meeting with the Bulgarian Construction Chamber (BTA photo)

Caretaker Finance Minister Rositza Velkova-Zheleva Monday held a meeting with representatives of the Bulgarian Construction Chamber (BCC) to discuss current pressing issues and start the process of finding sustainable solutions, the Finance Ministry said in a press release. 

Velkova-Zheleva said that she is aware of the problems in the sector and that a solution is to be found to them by both sides jointly. 

She noted BCC's active participation in the development of a mechanism for price adjustments in construction contracts. The mechanism has passed the public consultation stage and is now being coordinated by the relevant institutions. The aim is for the document to be submitted by the Regional Development and Public Works Minister and reviewed by the government until the end of the week, the Finance Minister said. 

The Chairman of the BCC Governing Board, Iliyan Terziev, said that the main problem of the construction sector is the absence of a mechanism for fair price adjustment. The BCC official stressed that the price adjustment is of critical importance not only for the construction sector but also for the authorities awarding construction public procurement such as local administrations, ministries, business entities where the state holds stakes. In Terziev's words, the absence and delay of a decision has had an impact on the entire society. 

BCC also urged for payments of due money to construction companies and a restart of infrastructure projects. 

The participants in Monday's meeting also discussed what the cap on price adjustments should be, options to revise it when necessary, feasible practical guidance and other pressing issues in the sector, among them the delay in the implementation of operational programmes and pending financial corrections, how to eliminate systemic errors in the implementation of EU-funded projects by the adoption of standardized practices, and the opportunities for new projects under the National Recovery and Resilience Plan. 




By 12:23 on 03.10.2022 Today`s news

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