European Commission Approves Lv 30 Mln State Aid for Bulgarian Tourism Industry
NW 13:59:31 09-11-2021
LG1357NW.111
111 ECONOMY - TOURISM - STATE AID AMPLIFIED
European Commission Approves Lv 30 Mln
State Aid for Bulgarian
Tourism Industry
Sofia, November 9 (BTA) - The European Commission on November 8 approved up to 30 million leva in State aid for the Bulgarian tourism industry, the Ministry of Tourism said in a press release on Tuesday.
Commission Decision C(2021) 8136 was adopted pursuant to the Treaty on the Functioning of the European Union and in accordance with the Temporary Framework for State Aid Measures to Support the Economy in the Current COVID-19 Outbreak. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.
The Tourism Ministry notified the Commission of the measure on October 21. The financial resources in question are part of a comprehensive package of 70 million leva allocated in support of tourism sector operators that find themselves facing a sudden shortage or even unavailability of liquidity due to the pandemic.
The eligible beneficiaries under that scheme are accommodation and food service providers, convention and trade fair organizers, human healthcare providers, artists and performers, organizers of sports activities, amusement and recreation events, and fitness gym operators. The measure is administrated by the Ministry of Tourism.
The European Commission said in a press release on Monday that the aid will take the form of direct grants. Eligible companies must have experienced a decline in turnover of at least 30 per cent in 2020 from 2019. The aid amount per beneficiary will not exceed 20 per cent of its turnover in 2019, or 1.8 million euro, whichever is the lowest, and will be granted no later than December 31, 2021. DT/LG//
LG1357NW.111
111 ECONOMY - TOURISM - STATE AID AMPLIFIED
European Commission Approves Lv 30 Mln
State Aid for Bulgarian
Tourism Industry
Sofia, November 9 (BTA) - The European Commission on November 8 approved up to 30 million leva in State aid for the Bulgarian tourism industry, the Ministry of Tourism said in a press release on Tuesday.
Commission Decision C(2021) 8136 was adopted pursuant to the Treaty on the Functioning of the European Union and in accordance with the Temporary Framework for State Aid Measures to Support the Economy in the Current COVID-19 Outbreak. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.
The Tourism Ministry notified the Commission of the measure on October 21. The financial resources in question are part of a comprehensive package of 70 million leva allocated in support of tourism sector operators that find themselves facing a sudden shortage or even unavailability of liquidity due to the pandemic.
The eligible beneficiaries under that scheme are accommodation and food service providers, convention and trade fair organizers, human healthcare providers, artists and performers, organizers of sports activities, amusement and recreation events, and fitness gym operators. The measure is administrated by the Ministry of Tourism.
The European Commission said in a press release on Monday that the aid will take the form of direct grants. Eligible companies must have experienced a decline in turnover of at least 30 per cent in 2020 from 2019. The aid amount per beneficiary will not exceed 20 per cent of its turnover in 2019, or 1.8 million euro, whichever is the lowest, and will be granted no later than December 31, 2021. DT/LG//
EUR 1.9558
USD 1.724
CHF 1.8657