IMF Representative for Bulgaria Forecasts Foreign Investment Melt

Business » FINANCE | November 27, 2009, Friday // 16:11
IMF Bulgaria Representative with Grim Foreign Investment Forecast: IMF Representative for Bulgaria Forecasts Foreign Investment Melt The IMF representative for Bulgaria and Romania, Tonny Lybek, says the direct foreign investments in Bulgaria will melt by 60% to 70% to just EUR 3 B. Photo by www.gandul.info

The International Monetary Fund (IMF) representative for Bulgaria and Romania, Tonny Lybek, forecasts a sharp decline in foreign investments in Bulgaria.

The information was reported Friday by pari.bg.

Lybec says the direct foreign investments will melt by 60% to 70% to just EUR 3 B.

According to the IMF representative, the main problem for all Central and Eastern European countries regarding the effects of the global economic crisis is precisely the recession and the slump of investments.

Lybec does, however, point out Bulgaria is not among the countries that have been hit the worst by the crisis and ranks it in “the middle.”

In the meantime, Bulgaria's Economy Ministry announced they are going to prepare a map of the local territories suitable for investment with the goal to encourage them. In 2010, they will also prepare a map of renewable energy resources.

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Tags: IMF, Tonny Lybek, direct foreign investments

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