Bulgaria: Expert perspective on the newly adopted State of Emergency Act by the Bulgarian Parliament due to the COVID-19 pandemic

Executive summary: 

The article discusses a special regulation which allows debtors to delay payments during the state of emergency without any negative consequences attaching to them. The discussed regulation provides for a moratorium not only over repayment of banking credits, but all other payments too, and since the courts are not currently in session there are no legal mechanisms for creditors to enforce their claims against debtors right now. The article discusses the possible outcome of this regulation and the expectation that Parliament may amend it soon.

Expert: Dimitar Vlaevsky