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AFP: Greek Businesses Find Safe Haven in Bulgaria
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People line up outside the Deposits and Loans Fund in Athens to request loans settlements or proceed with bank transactions, in Athens, Greece, 24 July 2015. Photo EPA/BGNES
At least 11,000 Greek companies have escaped the economic crisis at home by moving their business to neighbouring Bulgaria, AFP reported on Friday.
“Some 120 large Greek businesses set up in Bulgaria in the 2000s in sectors such as retail, metallurgy, fuel distribution, construction and real estate.
And if the Greek crisis put an end to the big-business migration in 2009, a rising number of small and medium Greek companies -- especially ones that trade with Europe, the Balkans and Russia -- have continued moving to Bulgaria to take advantage of its lower taxes,” AFP said in its article.
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