BCCI’s analysis: the European funds become more crucial to the investment policy of the state

In the first half of the current year 57% of the state investments have been financed by the EU funds. The data on implementation of the budget until June 2013 show that the capital expenditures of the state have amounted to 1,334.6 million levs, of which the European funding was 765.8 million levs.

EU funds have been consolidated as the main source of the state investment activities due to which the infrastructure has been modernized or other projects with economic benefits for the business and the people have been implemented. According to BCCI the increasing role of the European money should not be underestimated. In comparison to 2008 the share of the European funding in the investments of the state is only 11.6%.

It is the main reason for BCCI’s emphasis on the significance of the process of negotiating the new operational programmes for the next 2014-2020 programming period. 

In preparing the state budget for the year 2014 the Chamber recommends paying attention to the investment expenditures, as they create conditions for larger productivity and growth. The business expects the state to invest in technologies of implementing the e-government, which would facilitate the services for the companies.

On the other hand, in regard to the private investments from abroad a certain caution has been observed. Preliminary data show that in the first half of 2013 711.1 million euro has been received in the state compared to the 1,134.3 million euro for the same period last year (source BNB).

BCCI’s recent research among businesses showed that the key factors for attracting the foreign capital are predictability of the business environment, improvement of the administration, decrease of the   bureaucracy and corruption.