Bulgarian FinMin: Economy to Become More Export-Oriented

Business | November 19, 2010, Friday // 16:25|  views

Financial Minister Simeon Djankov stated Bulgarian economy should rely more on transport-oriented branches. Photo by BGNES

In the course of the next couple of years Bulgaria's economy is to rely increasingly on its export-oriented branches, according to Bulgarian Financial Minister Simeon Djankov.

Djankov gave the example that other European countries in which the economy relies strongly on export-driven branches are currently blooming.

The Bulgarian economy is also developing in this direction, its exports having increased by 40% year on year. In some regions, like the Middle East and Latin America, Bulgarian exports have boosted by as much as 70-80%, Djankov pointed out.

He commented that as a sign that the Balkan country's economy its traditionally strong but recently more or less forgotten markets.

Among the export-oriented branches with the biggest potential, Djankov mentioned the pharmaceutical sector, the IT-sector and some sectors of the tourist branch. He underlined also the importance of wine production and traditional Bulgarian foods with regard to exports.

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Tags: export-oriented, economy, Simeon Djankov, Bulgarian Financial Minister

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