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Bucharest
October 18, 2021
BUSINESS

Hundreds of Romanian firms move to Bulgaria

Bulgaria reported an economic growth of 0.7 per cent compared to last year, the Bulgarian Finance Minister, Simeon Djankov, stated, in an interview to “Adevarul”. According to the latter, the 2011 budget was already passed through Parliament and forecasts point to a 3.6 per cent growth next year and a 2.5 per cent deficit. He added that the reforms planned out by the Executive are weighed in the long run, all the way to 2035.
As regards Romanian companies, statistics show more and more, almost 300 a month, are moving to Ruse. Already no less than 1,500 Romanian companies opened offices in Ruse, and others are moving to the Bulgarian capital, Sofia. The reasons, according to the Bulgarian Finance Minister, have to do with taxes, maintained at pre-recession levels in Bulgaria. “We’ve maintained the same tax system, unlike Romania or Greece. Over here, the VAT remained at 20 per cent. The profit tax amounts to 10 per cent, while in Romania it is 16 per cent, and the tax on dividends amounts to 5 per cent in Bulgaria and about 12 per cent in Romania,” the Bulgarian official stated. According to Djankov, Bulgaria abides by its decision to join the euro zone as soon as possible. At the same time, Sofia authorities hope to join the Schengen Area in 2011. Djankov added that Bulgaria was ready to reduce the Danube bridge toll, as both sides would profit greatly from this. Furthermore, the Bulgarian authorities envisage building a second bridge across the Danube, for imports travelling from Thessaloniki through Bulgaria, then through Romania, on their way to Western Europe.

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