Vasil Velev, head of the Association of Industrial Capital in Bulgaria (AICB), warned that state administration spending is putting a heavy burden on businesses during an appearance on the BNT morning show.
Velev highlighted the rising wages in state sectors such as Security, Defense, and the Court and Prosecutor's Office, noting that these areas consume more than a third of government funds. He also drew attention to Bulgaria's demographic challenges, describing the situation as ?catastrophic,? with the country losing approximately 50,000 people annually as deaths outnumber births.
On the topic of Bulgaria's transition from the lev to the euro, Velev said the process is proceeding without major obstacles. He noted that some remote areas are experiencing shortages of starter euro packs and coins, but assured that supplies will eventually reach these locations.
Velev urged consumers to pay primarily with cards to facilitate the transition and reduce reliance on cash. He emphasized that overall, the shift to the euro is smooth and under control.
However, Velev raised concerns regarding commercial banks charging a 15-lev (?7.70) fee for exchanging leva for euros to non-clients. He criticized this practice as unfair and confirmed that the AIKB has already reported it.
Source:BNT
