Corruption and grey economy remain the main problems foreign companies operating in Bulgaria face, chairperson of the European Round Table of Industrialists (ERT) Baron Daniel Janssen said.

The ERT delegation meets for the seventh time representatives of the Bulgarian Cabinet, the Bulgarian National Radio reported.

Representatives of European companies demanded more efficient measures against the two problems. A country with economic indicators like Bulgaria should attract more foreign investment, Janssen said.

Prime Minister Sergei Stanishev listed the measures undertaken so far to counter the negative developments. Political will for change is present and the process will continue after the issuing of the European Commission report on Bulgaria’s readiness to join the EU, Stanishev said.

The high trade deficit remains one of the main problems to Bulgaria’s economic development, Stanishev said. Still, it does not pose a major threat as budget surplus and foreign investment counter its negative effects, the prime minister said.

Bulgaria’s government aims at improving the environment for investors and business development, Stanishev said. National policies will focus on limiting bureaucratic hindrances to business establishment and operations and on aiding foreign investment initiatives, said he.