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

Snow and rain across the country on Saturday

On Saturday, cold air will bring temperatures down. It will be cloudy. There will be rainfalls and snowfalls in the northwestern regions. There will be rainfalls in the eastern regions of the country. The wind will be moderate to..

published on 1/10/25 6:55 PM

Sofia Municipality and Bulgarian Academy of Sciences to make a registry of the homeless

The Sofia Municipality and the Bulgarian Academy of Sciences will create a register of homeless people in Sofia. The initiative comes from the Institute of Population and Human Research of the Bulgarian Academy of Sciences, which is participating in a..

published on 1/10/25 4:51 PM

Regular government may be formed next week

The co-chairman of the parliamentary group of “BSP-United Left”, Atanas Zafirov, expressed hope that this country would have a regular cabinet next week. “Today and tomorrow are important days, I hope that this knot will..

published on 1/10/25 4:12 PM