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Bulgarian textile producers are facing the severe effects of the global financial and economic crisis. Photo by BGNES
Bulgaria's export of textile products and clothes is expected to decline by 15%-20% in the fall of 2009 and the winter of 2010.
This is the forecast of Valeria Jekova, Chair of the Bulgarian Association of Apparel and Textile Producers and Exporters (BAATPE). Most of the Bulgarian textile firms work for foreign contractors.
Jekova said the textile producers would probably have to lay off workers in order to optimize their expenses. She believes that the companies in the sector generally manage to pay off regularly their loans but that the situation in the whole industry was rather grim.
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