20 July (BTA Corr. Nikolay Jeliazkov) - The EU Council said on Monday that it has approved its recommendations for EU countries in the field of economy for this and next year.

Four recommendations were addressed to Bulgaria. The first is to take all necessary measures, subject to temporary exceptions to state aid rules, to overcome the effects of COVID-19 and to support economic recovery. Where economic conditions allow, Bulgaria should pursue fiscal policies aimed at achieving "prudent" medium-term fiscal positions and ensuring debt sustainability, while increasing investment. Bulgaria needs to attract sufficient financial resources to strengthen the sustainability, accessibility and capabilities of its healthcare system, as well as to ensure a proportionate regional distribution of healthcare workers.

The second recommendation is for Bulgaria to provide adequate social protection and basic services to all and to improve labor market policies. Access to remote working should be improved and digital skills and equal access to education should be promoted. Bulgaria needs to address the shortcomings of its minimum income scheme.

The third recommendation is for Bulgaria to simplify and speed up procedures for providing effective support to smaller companies and the self-employed so that they have continuous access to finance and flexible debt repayment conditions. Priority should be given to ready-to-implement public investment projects and private investment should be encouraged in order to accelerate economic recovery. Bulgaria is expected to direct investments in the field of environmentally friendly and digital transition, especially in clean and efficient production and use of energy, clean transport, contributing to the gradual elimination of fossil fuels in the economy, including in the coal regions.

The fourth recommendation is for Bulgaria to reduce as much as possible the administrative burden for companies by improving the efficiency of public administration and improving e-government. Bulgaria needs to improve insolvency legislation, step up its efforts to ensure adequate risk assessment and mitigation, and better monitor the implementation of anti-money laundering legislation. RI/DT

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