Bulgaria Business Climate Improved by 33% Since 2009

The business climate in Bulgaria has improved by 33% since 2009 according to the Bulgarian National Statistical Institute.

The general assessment of the business climate improved by 2.1 percentage points since April, reaching a new maximum.

In May, the assessment for “business climate in construction” grew with 8.1 percentage points. Last year, the capital city of Sofia experienced a boom in the construction of new buildings. The services industry also grew by 0.9 percentage points. The potential for small business, however, was lowered by 1.6 percentage points. Some sources claim that the National Revenue Agency is making hard for small businesses to meet all the requirements.

The increase is due to Bulgaria recovering from the worldwide financial crisis of 2008. And despite the improvements, opening up a business in the country is still slow. The overall low corporate tax rates make it easier for the bigger business players to come into the country, but that often seems to happen while smaller establishments cease to exist or get bought out.

Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for EUscoop.com

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