Bulgaria’s accession to the eurozone will reduce transaction costs with key trade and investment partners, according to the annual U.S. State Department report on the investment climate in the country, reported BGNES. The report emphasizes that ''labor shortages and inflationary pressures continue to increase domestic prices and wages''.

''Foreign investors remain concerned about the rule of law in Bulgaria, such as: inconsistent regulatory and judicial enforcement, difficulties in obtaining permits, frequent regulatory and legislative changes, an inefficient judicial system and problems executing judicial judgments. In the medium term, a shrinking population and relatively low investment in innovation could dampen economic growth'', the analysis of the U.S. State Department warns.

Published and translated by Kostadin Atanasov

Photo: BGNES