The Minister of Economy saved 700 thousand in budget cuts for corporate directors

The Ministry of Economy has announced that 700, 000 leva were saved in government spending for the fiscal year. This was achieved by lowering the number of directors in the "Vazovski Mashinostoitelni Zavodi" (a military industrial factory) from 5 to 3.

The number of executive directors was also cut down from 3 to just one. The Minister of Economy takes credit for the savings.
Several other changes in state-sponsored agencies were also implemented. Pairs of government employees were put on the board of directors of “Stara Zagora Airport” EAD, “Institute for Marketing” EAD, and “Certification” EAD.

This would decrease the amounts paid to the directors. Running a company requires compensation, which the state is unwilling to pay. We’re yet to see what effect these budget cuts will have on the government-sponsored agencies in Bulgaria.

 

 

Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for EUscoop.com

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