A team of the European Court of Auditors visited BCCI

A team of the European Court of Auditors visited the Bulgarian Chamber of Commerce and Industry. The topics of the meeting included the progress of the National Reform Programme in the country and the macroeconomic imbalances identified in Bulgaria by the European Commission. The process of recovery of private investment, the dynamics of inflation, concerns about corruption, and barriers to growth were also discussed.

The President of BCCI Tsvetan Simeonov outlined the most significant obstacles to doing business in Bulgaria – the complicated and inefficient administration and related corruption, access to financing and the frequent amendments in legislation. He pointed out that in Bulgaria the procedures for registration of companies are simplified and quick, but the process for declaring bankruptcy is very slow and expensive. The Chamber proposed measures for improving the business environment in the country, labour market, education and healthcare.