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Bulgarian economy reports good, stable results in first 6 months of 2015: scientist

Monday, Aug 17, 2015

“Bulgarian economy reported good and stable results in the first six months of 2015. This is what official statistical data says, too,” said economist Professor Andrey Zahariev, speaking Monday for Radio FOCUS – Veliko Tarnovo.
He recalled Bulgaria had seen an increase of 11% in exports since the beginning of the year.
“There are three dimensions on this news. First, we have the figures that cannot be questioned. The second dimension is the geography of our trading partners and where [which markets] we managed to penetrate and strengthen our positions on. The third thing, which is also highly important, is the structure of what we trade in – the goods we import and export. The truth is that the news about the three components is positive. This is so as the Bulgarian economy is among the European economies of an open type. In it, significant part of a country’s GDP crosses the border in the form of imports and exports,” the economist stated.
In his view, the growth is mostly based on an increase in exports and a minimal increase in imports.
“This means Bulgarian business, irrespective of the embargo of the Russian Federation and the situation in neighbouring Greece manages to develop ita channels of trade distribution, produces goods that are in demand, and, meanwhile, as regards imports, we aim at a category of the so-called investment goods, which allow us to produce products with higher added value here, on Bulgaria’s territory,” the economist went on to say.
He added the growth for Bulgaria was estimated at BGN 22.4 billion.

Source: FOCUS News Agency