Mutual lack of trust between businesses and state exists in Bulgaria, President Georgi Purvanov said, and the problem should be dealt with to guarantee economic growth.

On April 18 Purvanov took part in a press conference during which he discussed the condition of the Bulgarian business sector.

According to research, Bulgaria ranks 107 among 175 countries on efficiency of the taxation system. The same poll showed that entrepreneurs in Bulgaria lose 616 hours annually to pay their taxes.

Bulgarian companies achieved a lot in conditions of transition, Purvanov said. The European future of Bulgaria depended on the manner these companies managed to integrate themselves into the EU market, he said as quoted by Focus news agency.

During the same conference, sociologists quoted data that 85 per cent of the Bulgarian companies felt ready to meet European requirements and work within a common market.

Two thirds of the companies questioned said that their revenue increased. Most entrepreneurs evaluate the business climate in Bulgaria as stable.