Bulgarian Industrial Capital Association (BICA)

The plenary session of the Economic and Social Council (ESS) at its meeting yesterday approved the opinion "Grey Economy in Bulgaria", developed on its own initiative, and decided to organize a special event for its public presentation with the aim of wider popularization. The initiative will also discuss the possibilities for integrating the recommendations made into the upcoming budget procedure.
The opinion considers the grey economy as a complex and dynamic socio-economic phenomenon, which continues to pose a significant challenge to the development of the Bulgarian economy. Despite the reported trend towards a gradual decrease in recent years, its share remains relatively high compared to the average levels in the European Union, which requires consistent and long-term policies to limit it.
The rapporteur on the opinion, Assoc. Prof. Dr. Milena Angelova, Secretary General of the BICA and member of the ESC Employers' Group, emphasized the need for a comprehensive approach combining preventive, stimulating and control measures, as well as strengthening institutional coordination and social dialogue. Particular emphasis is placed on increasing transparency, reducing the administrative burden, encouraging voluntary compliance with regulatory requirements and strengthening trust in institutions. Key recommendations include linking state support policies with compliance requirements, developing electronic payments and digitalization, increasing transparency in the public sector, and conducting active information campaigns to limit undeclared employment.
At the suggestion of Atanas Katsarchev - Chief Economist of the Podkrepa Confederation of Labour, member of the Workers' and Employees' Group in ESC and co-rapporteur of the opinion, the Economic and Social Council decided to present the document to state institutions within the framework of a specially organized public event.
The opinion was developed with the expert support of Prof. Dr. Stefan Petranov - founder of the Composite Index "Economy in the Light", which AIKB has been measuring for 14 years. Details about this unique indicator can be found on the website Economy in Light at: https://www.ikonomikanasvetlo.bg/
The Bulgarian Industrial Capital Association welcomes the adoption of the opinion as an important step towards the formation of a consistent and effective policy for lighting up the economy and promoting sustainable economic development.