Foreign banks with high interest rates destroyed native companies

National Association of Bulgarian businesses seeking dismissal of the Director of the territorial directorate of the NRA in Ruse, since there is evidence that the Director pursue personal interests through revisions all year various companies, members of the association.

To request the Finance Minister has been informed. Because of unjustified and murderous business bank interest rates, bad loans in Bulgarian banks have already reached 30 per cent and this phenomenon is likely to snowball grows, said at a press conference in Ruse President of the National Association of Bulgarian business Svetozar Nikolov, quoted by BTA.
According to Nikolov association has informed the Prime Minister and Minister of Finance that should help against maintaining high interest on loans because the interest disposed of small and medium businesses, economic development and endanger national security now.
The National Association of Bulgarian businesses believe that, through higher interest rates deliberately destroyed leading industrial companies to be bought for a song by foreign entities.
Due to high interest rates of 14 – 16 per cent of Bulgarian industrial production is not competitive as the Greek and Romanian, since they are paying on loans, respectively, only 3 percent and 4 – 6 percent, said Nikolov. He said that the National Association of Bulgarian business is organized before the Bank Plc in Rousse protest delayed 78 days for payments due.
In this case is requested verification of banking supervision by the BNB and even recall the license of UBB.

––––––––––––––––– ––––––––––

Finance