Bulgarian Business Climate Index Rose by 0.9% in June
Bulgaria is starting to become more and more visible on foreign investors’ maps as the business climate index shows an improvement in June. Last month, Bulgaria’s business climate index registered a 0.9% increase compared with the previous month. Our lawyers in Bulgaria can help foreign enterprisers open companies here.
Confidence in the Bulgarian services sector rose the most
The business sentiment of investors in Bulgaria rose last month by 0.9% which was a great news for the Government who is currently trying to improve business conditions in various sectors. The industries registering the best results were retail trade and services, according to the Bulgarian national statistical office (NSI).
Bulgarian companies in the services segment registered the highest growth – 3.9%, among the four sectors of the economy the business confidence questionnaire was applied to: industry, retail, services and construction. The increase is mainly due to the optimistic expectations announced by the companies for the following six months. The managers of Bulgarian companies in the services industry also remain optimistic about the last half of the year.
Industry and retail also registered good results
Industrial companies in Bulgaria are also positive and maintain a favorable opinion on what the last half of the year brings. The business confidence sub-index for industry rose by 0.8% in June compared to May thanks to the good assessments provided by enterprisers about the current business positions of their companies on the Bulgarian market. On a long term, managers expect for selling prices not to change.
The retail trade segment came with an even better outcome, indicating a 0.9% increase in June in comparison with the previous month, as companies had good assessments about their market positions. The managers’ expectations on the volumes of sales and order placements remain reserved, but only for the following three months.
The only index registering a slight decrease in the business climate report for June was the construction industry. The result was due to the managers’ reserved expectations over the following six months.
For information about the best sectors to invest in at the moment, please feel free to contact our law firm in Bulgaria.