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The average debt rate in the Bulgaria's real economy has doubled in the last year, growing from 20% to 43%. Photo by BGNES
Bulgarian companies are endangered by the fast increase of corporate obligations, including debts between separate private companies.
That may cause a chain bankruptcy, the Bulgarian Industrial Association's deputy chairman, Kamen Kolev, said Tuesday, cited by Bulgarian National Radio.
The average debt rate in the real economy has doubled in the last year, growing from 20% to 43%. Corporate debt is expected to reach EUR 150 B by the end of 2009, which is twice as much as Bulgaria's Gross Domestic Product (GDP).
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