Bulgaria's economy will be at risk if the 2011 export volume is not maintained

If in 2011 Bulgaria's exports were able to offset the lack of investments and reduced domestic consumption, in 2012, our economy will be at serious risk if exports do not reach 2011 levels, showed the analysis of the LLP Dynamics company.

According to experts, unlike the situation at the end of 2010, when there were clear signs of overcoming the crisis, currently, nobody in Europe knows what will happen. Uncertainty is the most negative factor for businesses. It's like driving a car blindfolded. Uncertainty in the EU has an enormous impact on Bulgaria. The lack of funds in the EU will significantly reduce access to those in our country, believe experts from LLP Dynamics. Most foreign banks in the country will have extremely limited resources to extend to businesses.

The widely discussed risk of failure of the Euro will have immediate consequences for Bulgaria. The possible abandoning of the Eurozone on the part of some countries will devalue their local currencies, which means a significant reduction in our exports to the EU. According to the negative outlook, countries such as Italy and Spain will produce cheaper products than Bulgaria. Bulgarian producers who sell more than 50% of their production in the EU will be unpleasantly surprised by this situation. Last but not least, a possible failure of the Euro will require changing the currency board in the country and pegging the national currency to another currency. If Bulgaria maintains the currency board and follows a pro-German course, this will mean lower competitiveness of our products abroad and additional pressure to reduce costs, experts reported.

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