German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
PM Stanishev: Bulgaria Is Stable amidst Global Financial Crisis
Business | September 17, 2008, Wednesday // 00:00
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Bulgaria's Prime Minister Sergey Stanishev stated Wednesday that the country's economy remained stable amidst the continuing global financial crisis.
In his words, Bulgaria's economic growth of 7% in the first six months of 2008 was unique in the context of the stagnation in the EU.
"In the last few days we a collapse in the largest financial markets in the world - the USA, the EU, Russia. However, for the time being, Bulgaria is not being affected by this crisis in any significant way", the Prime Minister said.
He added this confirmed the success of the government, which had managed to preserve the stability of the country's currency and financial system as well as people's savings and income.
During the ceremony for the opening of the new academic year in the Southwestern University "Neofit Rilski" in the city of Blagoevgrad, Stanishev also emphasized that the foreign investments in the country were on a pretty decent level, and that many of them went into the manufacturing.
There was only a drop in the real estate investments but the PM explained this with the real estate crisis in the USA and the EU.
In his words, Bulgaria's economic growth of 7% in the first six months of 2008 was unique in the context of the stagnation in the EU.
"In the last few days we a collapse in the largest financial markets in the world - the USA, the EU, Russia. However, for the time being, Bulgaria is not being affected by this crisis in any significant way", the Prime Minister said.
He added this confirmed the success of the government, which had managed to preserve the stability of the country's currency and financial system as well as people's savings and income.
During the ceremony for the opening of the new academic year in the Southwestern University "Neofit Rilski" in the city of Blagoevgrad, Stanishev also emphasized that the foreign investments in the country were on a pretty decent level, and that many of them went into the manufacturing.
There was only a drop in the real estate investments but the PM explained this with the real estate crisis in the USA and the EU.
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