Bulgaria: State Enterprises Benefit Most From Anti-Crisis Measure 60/40 – Novinite.com

State-owned enterprises are so far the largest net beneficiaries of the anti-crisis measure to maintain employment, which, according to an analysis of national statistics, has grown in popularity at 60/40.

From the start of the initiative on March 15, 2020 to mid-September 2021, the total amount of compensation will be BGN 1.5 billion and 13,307 companies have received payments.

The average remuneration per employee is BGN 575, and 21 is the average number of paid employees in a company.

The employment preservation measure, which rose in popularity as 60/40 and which supports Bulgarian employers and workers, will continue until the end of this year.

This was confirmed by the Minister of Labor and Social Policy Galab Donev in the report on the work of the transition cabinet “Yanev 1”.

The funds for the extension were made available through the update of the state welfare budget. The 60/40 measure continues with its new design approved by the executive government in the summer.

Only companies that were registered before June 1, 2019 can receive from the state 60 percent of the employees’ insurance income for April 2021 and the insurance premiums to be borne by the employer.

To be eligible, their income must have decreased by at least 40% in the month for which they are requesting compensation compared to the same month in 2019.

In the event that the decrease is not less than 30%, the state support will be 50 percent of the insurance income for April 2021 and the insurance premiums to be borne by the employer.

What is impressive is that the companies with the highest net pay come from the public sector.

The highest amount so far has been reached for “Rudnik Troyanovo – North”, part of “Mini Maritsa-East” EAD, which received 45.5 million BGN, and in second place in this type of ranking is “Rudnik Troyanovo – 1” with BGN 38.4 million.

In third place in terms of total remuneration are the Bulgarian posts, which received subsidies of BGN 32.6 million.

The top five include Kazanlak-based arms manufacturer Arsenal, which has received BGN 30 million since the program began, and Rudnik Troyanovo 3, also part of Mini Maritsa-Iztok EAD. Mini Maritsa-Iztok received a further BGN 3.4 million as a power plant.

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