Bulgarian Posts has sufficient resources for development, but wrong management decisions and lack of long-term strategy have hindered this process so far. This is what the Minister of Transport and Communications Georgi Gvozdeykov said on the occasion of the prepared restructuring plan of the company, which will be presented to the European Commission in September.
‘Serious organizational and managerial decisions are needed both for the stabilization of Bulgarian Posts EAD at the moment and for the permanent recovery of the company. From the first day we started the analysis of the actions to permanently solve the financial problems of the company’, Georgi Gvozdeykov emphasized.
We remind you that in May this year the Commission approved state aid of EUR 26.5 million as emergency liquidity support for Bulgarian Posts. Bulgaria then guarantees that in six months the loan will be repaid or Bulgarian Posts will present a restructuring plan to ensure the long-term viability of the company.
‘Bulgarian Posts, together with the Ministry of Transport and Communications, works on the preparation of the plan on a daily basis, each stage of which is consulted with representatives of the EC. It will include rescue measures that will bring the company out of its severe financial difficulties in the medium term.
The European Commission has expressed its readiness to consider a working draft of the recovery plan as early as the end of July, so that when the working session starts in September, it will be formally approved in a short time. This will allow the postal operator to immediately start absorbing the funds earmarked under the National Recovery and Resilience Plan. They amount to BGN 100 million and are aimed at modernising current services and introducing new ones.