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DATA SHOW BULGARIANS’ DEPOSITS IN SWISS BANKS INCREASE

Politics | November 27, 2001, Tuesday // 00:00

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Bulgarians rank fourth in the world in annual rise in the number of bank deposits in Switzerland, a report of Swissmoney, UK-based industry researchers, shows. A total of CHF 154,5 M have been transferred from Bulgaria to Switzerland in 2000. The accounts of Bulgarians with Swiss banks reached CHF 245 M by the end of 2000. According to experts the 291,7 % rise in capital outflow from Bulgaria to Switzerland in 2000 is due to the unreliable local currency. Bulgarians prefer Swiss banks because of the confidentiality and stable bank system, representatives of offshore companies in Bulgaria said.

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