Bulgarians Spent BGN 700 M during Holiday Season

This Holiday season Bulgarians spent BGN 100 M less than 2008 over the global economic crisis. File Photo

Bulgarians have spent BGN 700 M for purchases over the 2-week period around the Christmas and the New Year holidays.

The data comes from the first estimates of Bulgaria’s largest store chains.

The significant amount is, however, BGN 100 M lower than the same period of 2008 over the global financial and economic crisis and the consequent shrinking of the holiday expenses of almost all Bulgarian households.

For example, the “Technopolis” chain, specializing in the sale of appliances and electronics, estimates that purchases were down 15% over the holidays compared to 2008, however, purchases were up 220% in December 2009, compared to November of the same year. (In September, the retailer has registered a 30% reduction in sales.)

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