Standart News

Bulgaria should not allow large-scale unemployment and the bankruptcy of important economic sectors, said yesterday minister of labor and social policy Emiliya Maslarova at a conference devoted to employment in times of economic crisis. Mrs. Maslarova pointed out that in a situation of financial destabilization the usual practice is to cut down the salaries in order to maintain a maximum number of job positions.
Dimitar Brankov, deputy chief of the Bulgarian Chamber of Commerce and Industry supported minister Maslarova. He added that paying welfare would be a heavier financial burden for the government than keeping the job positions, even with lower salaries. Dimitar Brankov expressed his firm stand against reducing the insurance burden as it might lead to increasing the share of the grey sector in Bulgarian business. According to Mr. Brankov, every month Bulgarian companies file requests for downsizing 3,000 to 6,000 workers. Over 160 enterprises had already declared bankruptcy before the Register Agency, announced Brankov.   


Nadya Pankova