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Sales in industry surprisingly grew by a modest 0.5% in February compared to January.
In 2004, the growth rate for February was 9.7%.The size of the growth rate is not in line with traditional seasonality – after the decline in January each year, February marks a revival of business activity. In 2005 this did not happen, mainly due to the following:1. Garment and textiles production starts to feel the competitive... -
The government decided to grant the Varna & Bourgas airport concession to Copenhagen Airports.
The decision is expected to have impact on Bulgarian Black Sea tourism development.The changes will affect both the physical infrastructure and the business operations model of the two airports. Up to now, we know of the following plans of the selected concessionaire:1. Construction of a new terminal in Varna and reconstruction ... -
IMF Mission to Bulgaria and the revision of fiscal policy.
The agreement between the IMF mission and Bulgarian government will affect mainly public investment expenditures. The listed capital of ‘Public Investment Projects’ corporation will be reduced from BGN 340 million to 220 million. Additionally, the government committed itself to cut another BGN 117 million in expenditures. This r... -
Sales and growth in industry for 2004 and prospects for 2005.
The previous year of 2004 was by all means favorable to the Bulgarian industry. A series of factors had a beneficial impact, including: 1. A global rise in investment demand. 2. Expanding access to capital. 3. A growing domestic demand.We expect that short-term and one-time favorable factors that fostered the growth in industry ...