The Bulgarian economy constantly faces challenges that limit the opportunities for its development. Some of them have the character of global processes (global financial crisis, the refugee crisis in Europe, etc.) and we are forced to conform and adapt in the search for local solutions. More serious problem is the domestic political situation, which was unable to carry out the necessary reforms in key social systems for years so that it could ensure sustainable development scheme. The high political risk, amid which the Bulgarian business operates, has its specific dimensions: a deepening demographic crisis, declining quantity and quality of foreign direct investment, de-industrialized economy and marginalization of business to small and micro-enterprises in the services sector, etc.

Excessive controversial legislative changes are an additional factor for the worsening economic environment in Bulgaria. Government regulation of business is often inconsistent, unbalanced and is considered contrary to the requirements of Bulgarian legislation, which requires mandatory preliminary assessment of the proposed changes’ impacts.

Key legislation (codes, laws, etc.) are subject to constant change, which is proof that Bulgarian legislation does not yet apply best practices in order to make legal regulations permanent and to focus on sustainable strategic objectives. Frequent legislative changes could be considered only a manifestation of poor quality and/or lobbying rulemaking and government management. In this sense, the dialectical maxim that 'quantitative accumulations lead to qualitative changes' proves absolutely inapplicable under such regulatory hyperactivity. National Assembly continuously breaks national, Balkan and global records on amendments to the regulations, which unfortunately prove to be unworkable.

Let us all turn to our MPs asking: "Please, slow down - It is time to think first."

Let us hope there is someone out there to listen.

Business

Society