Covid-19: Bulgarian Cabinet approves 40M leva for tourism sector wage support

Written by on June 24, 2020 in Bulgaria - Comments Off on Covid-19: Bulgarian Cabinet approves 40M leva for tourism sector wage support

Bulgaria’s Government said on June 24 that it has allocated 40 million leva, or about 20.5 million euro, for a wage-support program targeted at the country’s tourism, hospitality and transportation sectors.

Under the scheme, companies and self-employed individuals would receive a monthly subsidy of 290 leva a month for each job preserved, starting July 1 for a period of up to six months.

The program is targeting companies and self-employed people that have recorded at least a 20 per cent decline in revenue for “a certain period”, the Cabinet statement said, but it did not specify what that period was.

Applicants must have no outstanding tax arrears and must not be in bankruptcy or liquidation proceedings. Companies applying under this scheme must not be receiving other state aid and must continue operations while receiving state aid.

The Cabinet statement said that it expected 22 000 people would receive aid under the scheme, with the funding allocated from the EU funds operational program for human resource development. Payments under the proposed scheme are set to begin after it is approved by the European Commission under internal market guidelines for state aid.

(Photo: government.bg)

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