Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgarian Industrial Capital Association: the crisis is already here!

President of Bulgarian Industrial Capital Association Vasil Velev
Photo: BGNES

The Bulgarian industry is not facing a dilemma whether the crisis may come-it is already here, the President of the Bulgarian Industrial Capital Association Vasil Velev told the Bulgarian National Radio. Vasil Velev pointed out that according to national statistics, exports fell 6.4% in June this year.  In his words, a decrease in sales was registered in the recent months in various sectors such as machine-building, electrical engineering, textile, clothing, manufacture of furniture and metals. For the first time in a very long time, uncertainty is a bigger problem than the deficit of human resources. Due to lack of enough orders, some of the enterprises will shift to a 3 day or 4 day week, which will result in lower salaries. That is why the business has asked the Bulgarian authorities for assistance. Here is how Velev answered the questions whether Bulgaria is heading for a recession: This is the direction when the industry starts going down and the economy is inert. After the huge costs made on the purchase of the new fighter aircraft, it may turn out that this country will recede from the ERM II (the Eurozone’s waiting room) due to the huge deficit, if this country does not take the necessary measures in the meantime, the President of the Bulgarian Industrial Capital Association Vasil Velev warned. The claims of the Bulgarian Industrial Capital Association that this country is heading towards economic recession were rejected by Bulgaria's Minister of Economy Emil Karanikolov.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Dobromir Borislavov

Consequences of illegal trade in wildlife in Bulgaria are dangerous for both people and animals

The head of the Sofia Zoo, Dobromir Borislavov, has called for compliance with the law and a responsible attitude towards wildlife. Speaking to BNT, Borislavov pointed out that it was high time to put an end to the unregulated..

published on 6/24/25 12:12 PM

Bulgaria expresses condolences and sympathy for the victims of the deadly attack in Damascus

The news of the terrorist attack against the Orthodox St. Elias Church in the suburbs of Damascus, carried out on June 22, 2025, shook the Orthodox community in Bulgaria and provoked sharp reactions against the violence towards..

published on 6/24/25 11:03 AM

Bulgaria celebrates Midsummer's Day

On June 24, we celebrate the Nativity of St. John the Baptist, known among Bulgarians as Enyovden (Midsummer's Day). For Christians, after the Blessed Virgin Mary St. John the Baptist is the most revered among those born of women...

published on 6/24/25 8:54 AM