Experts Warn of a New Economic Crisis

Business » FINANCE | August 21, 2019, Wednesday // 11:53
Bulgaria: Experts Warn of a New Economic Crisis

Experts warn of a new economic crisis that could reach Bulgaria. Our economy is experiencing the first effects of a slowdown in the global economy - shrinking exports, production and investment.

The country maintains its economic growth of about three percent and a half year on year. Employment, wages and consumption continue to grow, but statistics from recent months are not so optimistic.

"Migration has already begun. In Bulgaria, we have a contraction in industrial production, we have a contraction in exports, whether this will trigger recessions in Bulgaria or simply slowdown in growth, it is now too early to say," said Lachezar Bogdanov of the Institute for Market Economics .

"In any case, Bulgaria is in better condition than it was in 2008, when the global financial crisis started, but that does not mean that there will not be much quick and immediate effects.''

And this is already observed mainly in trade and production. The slowdown of the Chinese economy, exports and trade wars on a global scale also warrant experts to warn of an expected recession or even crisis.

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Tags: Bulgaria, economy, recession, financial crisis
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