By Agnes Lovasz
Bulgaria needs wages and prices to fall further to increase competitiveness and help economic output return to pre-crisis levels, Capital Economics Ltd. said....
Bulgarian industry is indeed not price-competitive (by much more than 10%), but this should be countered by increased productivity, not by decreased salaries. Decreased salaries will demotivate workers even more than they already are; instead workers should be motivated by increased appreciation for their innovative contributions to the company.
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