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

Warm weather is back

On Wednesday, lows will be between 5 and 10°C, with Sofia around 7°C. The sky will be mostly sunny, with some clouds in the eastern areas before midday. Light to moderate winds will blow from the south-east. Maximum temperatures will be between 19 and..

published on 4/15/25 7:05 PM

DPS-DPS party to decide whether to continue supporting the government

The operational leadership of DPS-DPS party met to decide whether to continue its support for the government. This is happening a day before the discussion of the second vote of no confidence in the "Zhelyazkov" cabinet on the topic of corruption...

published on 4/15/25 5:45 PM

Housing prices in Bulgaria have increased 2-3 times in 10 years

Over the past 10 years, housing prices in Sofia have tripled, and in large cities more than doubled. This is according to data from one of the largest brokerage companies on the Bulgarian market.  "If in 2015 in Sofia you could buy a home..

published on 4/15/25 5:03 PM