The economy's light is not just an economic indicator that we read about in statistics - percentages up or percentages down. We compare ourselves with other countries, draw certain conclusions and make successive recommendations. It is something much more - an accurate guide and diagnosis of where the country is and how it is doing, what is the environment in which Bulgarian business operates, how we are dealing with the most pressing problems. This was said by President Iliana Yotova, who is participating in the ceremony of presenting the national awards “Economy in Light“ for 2025. The event is an initiative of the Association of Industrial Capital in Bulgaria, BTA reports.
When there are no rules in the economy, there are many losers, the president noted. She explained that among them are primarily working people, because they do not receive the income they deserve and are deprived of social protection. Bulgarian business also loses from unfair competition and the lack of predictability. The state also loses because it often does not collect the revenues that are legally due to it, said the head of state. She pointed out that the revenues represent billions of euros that could go to better healthcare, education, and more and better quality investments in the country.
The economy in the gray sector and its various manifestations are often associated with negative manifestations and trends - fiscal abuses, money laundering, a large part of this money does not reach its intended purpose, explained President Yotova. She pointed out that it is no coincidence that great attention is being paid to this policy throughout the European Union (EU). Iliana Yotova said that one of the most successful legislative policies in the EU is the one for combating money laundering. She added that this crime is extremely flexible.
Bulgaria still cannot get off the Grey List and the grey sector occupies a significant share in our country - above the European average, about 15%, the president also said. She pointed out that we need, above all, the union and the decisive role of state institutions. They must give us rules and laws that work equally for everyone and that there are no privileges, turning a blind eye or handing out envelopes under the table, said Iliana Yotova. She explained that we also need a well-functioning business that does not allow itself to hoard money and make its own rules to operate by. We need to form public intolerance towards such phenomena, she also said.
According to Yotova, we need an environment in which business gives people the income they deserve. So that they are interested in declaring this income, and not hiding it, the president explained.
Iliyana Yotova noted that the efforts of not only the state, trade unions and employer organizations, but also the support of society are needed.
The head of state announced the winner in the category “For a normative act or administrative practice that leads to limiting the shadow economy and improving the business environment“ – the Ministry of Labor and Social Policy for introducing a Unified Electronic Labor Record.