Bulgaria’s economic revitalization might benefit from influx of Greek entrepreneurs

Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), has rejected allegations of an upward trend in corporate bankruptcies, stressing that H1, 2015 data testifies to the opposite.

In a media statement published on July 23, 2015, Velev opposed the claims of the Bulgarian Registry Agency, adding that the first quarter of the year had brought GDP growth of 2%, higher than the forecast for the period, and that there had been a double-digit growth in export and an increase in the employment rate and a decrease in the unemployment rate.

We can say that we are witnessing economic revitalization, be it only fragile,” he stated.

Regarding suggestions that some 60,000 Greek companies would relocate to Bulgaria, he said that the fact that Greek entrepreneurs were opening accounts in Bulgaria would not be felt immediately, but rather over a longer period of time.

Velev said that it was certain that a large number of Greek companies would gradually move to Bulgaria, especially if the crisis there deepened.

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