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Tuesday, June 28

Foreign investments in Bulgaria might drop down with 50%

Updated on: 27.05.2009, 00:08

Published on: 27.05.2009, 00:03

Author: Olga Yoncheva

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The world financial crisis might reduce the foreign investments in the Bulgarian economy with up to 50%. This claimed the chief of the Bulgarian association for investments (BAI) Stoyan Stalev in an interview for Bloomberg agency.

This is the most pessimistic option, while at the same time there is possibility the attracted from abroad funds to melt down to 4 billion euro compared to last years 6.5 billion.

The foreign direct investments (FDI) for the first two months of the year according to preliminary data are 433 million euro, while for the same period last year they were 674 million euro, informed some time ago the Bulgarian national bank.

In the time of crisis, it is mostly relied on them to compensate the downturn in the foreign trade.

October last year the minister of economy Peter Dimitrov claimed that despite the crisis the foreign investments in the country would not decrease because of the especially favourable conditions for making business in Bulgaria.

The other day minister Dimitrov again expressed optimism by saying in Varna, that the interest of the foreign investors in the country continued.

Dimitrov compared the FDI as share of the GDP and claimed that Bulgaria would continue to hold the first place in EU in amount of attracted foreign investments as share of the GDP.

Reuters noted that the foreign investments go for coverage of the trade deficit in the country, which in the end of last year was 25% of the GDP.

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