Crisis in Bulgaria's Construction Sector Continues

Business | October 26, 2012, Friday // 09:19
Bulgaria: Crisis in Bulgaria's Construction Sector Continues Photo by

Around 100 construction companies based in Southwestern Bulgaria have gone bankrupt over the past two years and the situation has changed completely as compared to 2008.

Bankruptcies in the construction sector continue, according to reports of the Bulgarian National Television (BNT).

The worrying rend is mostly due to the lack of investors, the scarcity of qualified staff, and the difficulty of obtaining bank loans.

According to experts in the field, there is still room for construction in the Bulgarian ski resorts of Bansko and Razlog.

Construction firms believe that the other major reason for the crisis in the sector is that young university graduates have no motivation to work in their field of expertise.

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Tags: construction, construction sector, bankruptcies, Bansko, Razlog
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