Seems to me that the Russians are trying to damage the chemical/steel industries in the CEE? After all, who's going to lend them money now that its clear that the Ruskies will turn off the gas on a whim?
The only solution is a 35% devaluation of the Lev. That would restore exports, counter the trade deficit and protect the tourist industry this summer. Otherwise, the outlook is really dire! :-(. It's impossible to function when the currencies of most of Bulgaria's neighbours have fallen through the floor?
When I was there a couple of days before, they were dropping peoples' luggage all over the runway, for lack trolleys - requiring luggage to be piled up too high!
Internet services were down in one of the most expensive hotels in the City centre, and things were generally looking drab and dated. And, the toilets have still not been positioned at a height suitable for normal human beings!? :-)
It's not uncommon for only 60% of things to function correctly in BG, but there is a severe recession coming, and efficiency + productivity seem to be going backwards, just at the wrong moment in time?
The solution is simple. Catch one of the mutri stealing, and then appoint him to run the agencies, with the threat that his wife and family will be condemmed to a life of abject poverty if one more stotinki goes missing from EU funds :-).
In difficult times, the well being of the state is more important than party politics. Bioko is absolutely right, no doubt he's seen some scary data coming out over recent weeks that are not yet in the public domain.
Ha ha, and I thought it was the original Fawlty Towers holiday destination :-). It just wouldn't be the same if Bulgarians had any concept of *service* and *manners* :-). I actually find it quite funny! Bulgarians are just different, have a different way, it's fine by me, but I can imagine that some of my compatriates might be more than a little surprised, to say the least! :-).
Forgiveness? You mean they're trying to join GERB because the funds they've been stealing to buy posh Black Sea apartments has dried up, and they are now desperately trying to find a way to protect their ill gotten gains and if possible steal some more if GERB gets into power when the Bulgarian economy totally collaspes sometime next year?
Things are bad in old Europe, logic suggests that things will get very bad in Bulgaria. Although, a 75% fall in property prices would be great for those young Bulgarians who still have a steady job after unemployment goes back up to 25% :-).
iamsobored, you clearly don't understand the relationship between the Lev and the Euro! :-)
Yep, maybe a good idea to convert savings into Euro's now. I can't see how the currency board can survive with FDI dropping close to zero and the current account deficit at -$8 Billion? A 30-50% devaluation is maybe on the cards?
Bulgaria is the EU Country with the Largest Number of Women in the IT Sector
Hewlett Packard Enterprise Sold its Assets and Contracts in Bulgaria