„It is important for us to deepen trust and dialogue with American business and to create conditions for companies to expand their presence in our country". This was stated by Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Pulev during the business breakfast organized by the American Chamber of Commerce in Bulgaria with the Prime Minister and government representatives.
The Deputy Prime Minister pointed out that Bulgaria is faced with the need for a comprehensive economic transformation. „Our economic model is exhausted. We must move towards a comprehensive economic transformation at all levels and in all spheres“, Pulev said.
He noted that in recent years, labor costs have increased significantly, while productivity is not increasing at the same pace. “Bulgaria has become an absolute leader in losing competitiveness in recent years“, said the Deputy Prime Minister.
“Therefore, the government is working to increase investments through mechanisms that are as budget-neutral as possible and allow for the mobilization of additional private capital“, he emphasized.“Pulev emphasized to the business representatives that Budget 2027 will be the budget of reforms. “Our goal is to deploy all the necessary instruments for growth in an intelligent and constructive way“, he also pointed out, adding that the key to good fiscal discipline does not come only from cutting expenses. “The key is to increase the revenue base. This is a slower but more sustainable process“, he was categorical.
“We provide significant support to all structurally determining segments of the economy, which, if they do not work effectively, fuel inflation, which hits the level of competitiveness and reduces the quality of life of every Bulgarian citizen“, the Deputy Prime Minister emphasized.
Among the priority areas, Pulev indicated the energy-intensive industry, transport and logistics, emphasizing the need for Bulgarian business to be placed on equal terms with its competitors from other European countries. “We had developed urgent measures for transport and logistics, as a large part of the industry competes with major leaders in Western Europe“, the Deputy Prime Minister pointed out. He stated that support for these sectors will continue in 2027.
The Minister of Economy also drew attention to the need for reform of the administrative and regulatory environment, which is being prepared in constant dialogue with business. “We want this administrative reform to be high-quality, pragmatic and practical and to benefit business“, he stated.
According to him, the government is already holding meetings with industry organizations and business representatives, with the first step being an analysis of the current framework. “With the help of the parliamentary majority, we will achieve a high-quality regulatory transformation so that it works and creates a better business environment for companies in Bulgaria“, said the Deputy Prime Minister.
Among the key instruments for economic development, Pulev also highlighted public-private partnership, announcing that the government is in the final stage of preparing new legislation in this area. The Deputy Prime Minister pointed out that the new framework will create an opportunity to mobilize private capital and European funds for strategic infrastructure projects. “Public-private partnership is the key to the modernization of the country's infrastructure. Among the priorities are roads, airports, ports, industrial zones and energy infrastructure“, he emphasized.
He also placed special emphasis on the development of industrial zones and the need for investments in leading infrastructure. “The state must accelerate innovation, accelerate the economy, and not be its brake. There is a clear vision and goal and with you we will achieve it“, concluded Alexander Pulev.
The discussion was also attended by Prime Minister Rumen Radev, representatives of business and diplomatic circles, the Minister of Innovation and Digital Transformation Ivan Vassilev, the Minister of Justice Nikolay Naydenov, the Deputy Minister of Energy Lyubomira Gancheva and representatives of the diplomatic corps in Bulgaria.
The main focus was on the geopolitical environment, the competitiveness of the EU and Bulgaria, investments, innovations, education, the labor market, sustainable economic growth and strategic relations between Bulgaria and the USA.