Bulgaria IT Market to Shrink by 15% in 2009

The crisis is forcing the companies to increase their efficiency – cut some expenditures, and staff, and so on. File photo

Bulgaria's information and telecommunication technology market will shrink by not more that 15% in 2009.

This prediction has been made by, Lyubomir Minchev, TeleLink Holding Group Executive Director and Co-Founder, in an interview for the Pari Daily.

In his words, in the first half of 2009 the decrease is between 10% and 15%. Even this numbers are over three times higher than the expected overall fall of the economy, which is disturbing enough, Minchev said.

However, this current situation is the thing that the business is trying to use as a new working model, he explained. The crisis is forcing the companies to increase their efficiency – cut some expenditures, and staff, and so on, Minchev commented.

IT and telecommunications markets everywhere suffer from the negative effects of the global economic crisis, he added. This tendency is observed not only in Bulgaria, but in Serbia, Macedonia, Romania, and the Ukraine, where the company has clients.

“Talking about Bulgaria, the IT and telecommunications market is equally affected as the one in Romania. There are some differences, of course. Bulgarian telecom operators are still increasing the amount of investment, while in Romania this sector is staying still”, Minchev explained.

The common thing, though, is that there is a drastic fall of the investments of the biggest clients – companies in the financial and communications sector, he added.

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