Sofia is Forming 40% of the Country's GDP

Politics » DOMESTIC | December 18, 2017, Monday // 14:30| Views: | Comments: 0
Bulgaria: Sofia is Forming 40% of the Country's GDP Source: Pixabay

40% of Bulgaria's Gross Domestic Product is formed by the capital, said Doncho Barbalov, the Deputy Mayor of Sofia in the Finance and Economic Activity Division.

"Sofia has a significant share in the GDP of the country, 40% of it is formed in Sofia, the city generates 2-2.5 times higher GDP per capita. The role of Sofia as an economic engine of the country is extremely large" , he announced during a seminar on "Draft Budget for Sofia Municipality for 2018".

"The last months and years have seen extremely low unemployment, practically below 3%, which is the minimum that an economy could have," he added, adding that Sofia has a very high wage growth compared to the average for the country . "The labor force in the city is the biggest asset we have. This is one of our biggest advantages over all other regions of the country, "said Doncho Barbalov. "At present, Sofia has the highest rating it can have, which is a great news and a confirmation of our sound financial policy in recent years," Deputy Mayor pointed out.

"In recent years, there has been an ever closer link between business and training to enable universities to prepare staff that the economy needs," he said.

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