Levon Hampartzoumian: Zero VAT rate will help people in the industry to earn a little more

The zero VAT rate will help people in the industry to earn a little more, banker Levon Hampartzoumian commented on Nova TV. Despite the fall in VAT on bread, it will not reduce its price, he added.

According to him, the measure will allow businesses to earn a little more or cover some costs.

"The production and trade of bread is very much in the gray area and the state is very difficult to fight. The measure makes sense in terms of clarification, "said the banker. According to him, however, such a measure could not last too long.

"We are not in a crisis right now. The Bulgarian economy is growing, exports are growing, unemployment is low. "Wages are catching up with economic success, not the other way around," Hampartzoumian said.

The banker also commented that at the moment it is not just a crisis after COVID and the war. "It's time to shorten supply chains, to make them more sustainable," he said.

"Tomorrow, strategic decisions will be made, where production facilities and important infrastructure will be located. If our position is unsustainable, it means that others who seem more resilient and motivated will get more than we do, ”Levon Hampartzoumian explained.