Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
“People who go on unpaid leave during the lockdown period must submit an application for aid to their employer. This way they will be able to take advantage of BGN 24 daily in aids. Employers, on the other hand, have to submit these lists to the labor offices.
There have already been businesses closed since October 28, because various local restrictions have been in effect. We're trying to provide help to everyone. We are considering different options and cases." Denitsa Sacheva, Minister of Labor and Social Policies, said in an interview for "Hello, Bulgaria" morning program on Nova TV.
She added that this aid is intended for about 50,000 people, and they will be able to apply for it from Monday.
Sacheva reported that 356,000 people have been affected by the order issued yesterday. This is precisely why the Ministry of Labor is ready to expand the funds provided for support, she explained. People will receive the money within 10 days.
She further said that if workers have a aids-related problemswith employers, they can file a complaint with the ministry.
"These BGN 24/day are provided under a 80/0 scheme, i.e. the state pays 80% of the minimum wage and the employer does not participate. That is, each employer has the opportunity to combine different measures. He could also use the 80/20 scheme for part of his staff", announced Sacheva.
"The measure concerning parents who stay at home with children of up to 14 years of age applies to people who work and are on unpaid leave as well as to self-employed persons who can file a declaration that they cannot work at this time because they have to look after a child. They will then be entitled to receive BGN 610. The measure will also apply to unemployed people who are not entitled to compensation from the Labour Office", explained Minister Sacheva.
She added that there is also a short-term employment measure which also applies to self-employed people. The compensation in this case amounts to BGN 290.
"My colleague Lachezar Borisov held meetings with employers yesterday. Two options are being currently discussed. Either to pay fixed costs or between 15-20% of the turnover. The turnover of the businesses from the previous year was almost BGN 3 billion, so if we divide it proportionally month-on-month it will be a very large sum. But I think between 15-20% is a realistic option," Sacheva concluded.
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Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
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