Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Foreign investors, who are still considering tapping Bulgaria’s market, will be extra cautious as long as the country is struggling to emerge from political turmoil, experts have warned.
“The investors, who are already here, hope that the situation in the country will remain stable”, Michael Angerer, head of the commercial department with the Austrian Embassy in Sofia, told Bulgaria on Air TV channel.
He warned it will be getting harder to attract investors if the political instability, which started with the anti-poverty protests and led to the resignation of the center-right cabinet of Boyko Borisov in February, drags on.
“In Bulgaria companies are looking for clear legislative framework, which helps business grow,” he added.
Both Australian and Italian investors are lured to Bulgaria because they see the country’s good potential for foreign investments in various sectors.
But it is important that the next government takes the necessary measures to promote the country in a new way, according to Marco Montecchi, Chair of the Italian Chamber of Commerce in Bulgaria.
According to the Italian expert Bulgaria should improve its image abroad as the country has good potential.
“We see Bulgaria as a country in which we can always invest,” said Montecchi.
“Companies are happy with Bulgaria’s current 10% flat tax on personal and corporate income, while in most European countries the corporate tax is about 40%.”
Montecchi recommended that the next government increase the tax by 1-2 percentage points, to use the additional revenues for social care.
“Even then the tax will still be profitable for Italian investors, “ he said.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
As summer approaches, Bulgaria's seaside tourism industry faces a daunting challenge as hotels may remain shuttered due to a severe shortage of staff
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022