Bulgaria’s business climate deteriorates in August for third month

Bulgaria’s business climate, as measured by the National Statistical Institute (NSI), deteriorated in August 2014 for the third consecutive month.

Despondency among managers in Bulgaria’s construction, retail and services sectors worsened, while in industry business sentiment remained unchanged from July, according to the NSI monthly survey.

The major factor was the uncertain economic environment, the NSI found. The NSI said that nearly 60 per cent of managers in industry argued that economic insecurity interfered with their business plans. For industry, the problem next in severity was weak domestic demand.

In all four sectors, managers expected that the prices of goods and services would remain unchanged over the coming three months.

Bulgaria currently is headed to early national parliamentary elections on October 5, following the downfall of the Bulgarian Socialist Party government which had been widely rejected by the public. Assessments are underway of the damage done by that government in its time in office from May 2013 to August 2014.

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(Photo: mattnolt)