PM: Bulgaria offers some of the best conditions in Europe for doing business

Bulgaria offers some of the best conditions in Europe for doing business, Bulgaria’s Prime Minister Boyko Borissov said at a business breakfast organized by the American Chamber of Commerce on 18^th of September. The good economic climate also led to an increase in US investments in Bulgaria, which ranked USA as the sixth biggest investor.

The good investment climate is due to strict fiscal discipline, the prime minister told the organisers of the meeting.

Boyko Borisov, Prime Minister: We have a huge fiscal reserve. Why? Because it guarantees the stable exchange rate of the lev (BGN). 10% flat rate tax, 20% VAT. One of the best conditions for doing business in Europe.

The prime minister also highlighted the significant reduction in external debt, which is currently 24%. Borissov also noted the steady growth of GDP and the diversification of investments.

The government's ability to raise budget wages by 10% on January 1st, the prime minister explained with a successful fight against smuggling

Boyko Borisov, Prime Minister: When our government came to power, the corruption in smuggling was 34%. Now I think that as soon as we disrupted a large number of illegal factories for production of cigarttes., it will drop below 5%.

In turn, the US Ambassador noted the growing interest of US companies towards Bulgaria.

Eric Rubin, US Ambassador to Bulgaria: More importantly, these investments support the development of dynamic sectors in the Bulgarian economy, such as production, energy, modern agriculture, stimulating economic growth and welfare in the regions where they work.

From 1990 to 2016, US investments in Bulgaria amounted to BGN 4.5 billion.