Bulgaria to Be Adversely Affected by Euro, US Debt Crises - Analysts

Business | August 6, 2011, Saturday // 18:59|  views

Bulgaria will not fail to feel the effects from the debt crises that have grappled the USA and the Eurozone, according to local economy analysts.

The downgrading of the US debt rating by Standard & Poor's from AAA to AA+ will lead to instability in global stock exchanges which is bound to reflect on financing and activities of companies in Bulgaria, according to Ruslan Stefanov from the Center for the Study of Democracy.

The analyst adds that this could lead to a slowdown in consumption and investments, and a general instability of the Bulgarian economy, reports the Bulgarian National Radio.

Lachezar Bodganov from Industry Watch argues that the events will lead to a shrinking in crediting, an increase of interests and higher inflation worldwide.

Bogdanov was also certain that the stagnation in the US and European economies will have an adverse effect on Bulgaria.

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Tags: stagnation, downturn, debt, crisis, USA, US, europe, Eurozone, inflation, Industry Watch, Center for the Study of Democracy, Standard & Poor's


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