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

Georgi Klisurski

Resignations in PP-DB continue

Former Deputy Minister of Finance Georgi Klisurski from "We Continue the Change" (PP) announced that he was leaving the party. In a Facebook post, Klisurski wrote: "I am leaving the PP. Disappointed and disgusted." His colleague in..

published on 6/26/25 9:20 AM

Experts gather in Pamporovo for scientific conference on climatotherapy

From June 26 to 28 th , the Second National Scientific Conference will be held in the Pamporovo mountain resort. The topic of the forum is "The Role of Climatotherapy Resorts for Health - The Example of Pamporovo". Among the..

published on 6/26/25 7:35 AM

International regatta Ultramarine Balchik Match Race starts

Balchik is hosting the international regatta Ultramarine Balchik Match Race from the calendar of the European Match Race Tour (EMRT), BTA has reported. The race will be held from June 26 to 29. Teams from Bulgaria, Poland,..

published on 6/26/25 7:10 AM