BIA: The global recession will affect the Bulgarian economy as well

As a result of the expectations for a decrease in the economic growth in the Euroarea, more sectors of the Bulgarian economy will be affected this year, predicted today Bozhidar Danev, Executive Chairman of the Bulgarian Industrial Association, quoted by BTA (Bulgarian Telegraph Agency). According to him, the metallurgy and transport sectors will be mostly affected since they are export-oriented. So far, no decline has been registered in the contracts concluded in the ferrous and non-ferrous metallurgy sectors, stated today before Klassa daily the CEO of the Bulgarian Association of Metallurgical Industry, Politimi Paunova. She explained that currently there was no evidence of recession in the European markets and the previous financial year was more beneficial for the industry than 2010. Even if there is a decline in the number of the concluded contracts, it will be felt at the end of the first quarter, added also she. In fact, over 60% of Bulgarian export is directed to the EU countries.

According to BIA, Bulgaria has two main sectors, which can stabilise the economy during the crisis. These are agriculture, grain production in particular, and tourism because the tourist flow is directed to our country as a cheaper destination. What we actually need is an efficient roadmap for e-government, for repeal of the regulatory regimes and improvement of the absorption of the funds granted under Operational Programme Competitiveness.

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