Bulgarian Economy May Recover Soon – Banker

Business | May 8, 2012, Tuesday // 16:56|  views

Stilyan Vatev, CEO of United Bulgarian Bank (UBB), has expressed optimism regarding Bulgaria's potential to emerge from the crisis. Photo by BGNES

Stilyan Vatev, CEO of United Bulgarian Bank (UBB), has suggested that the Bulgarian economy has sufficient potential to recover from the crisis soon, as long as its positive sides are put to use.

Speaking Tuesday at a round table titled "Protection and Development of Bulgarian Production – a Factor for Emerging from the Crisis", Vatev suggested that Bulgaria had to focus on agriculture, upper-class tourism, the construction of transport and logistics centers and energy transmission networks.

Meanwhile, sociologist Kancho Stoychev, co-owner of the Sofia branch of the BBSS Gallup International polling agency, presented a survey indicating that 70% of the consumers would buy Bulgarian goods if that were sold on equal conditions with imported items.

80% of the polled said they preferred Bulgarian food products, according to Stoychev's data.

Stoychev and Vatev claimed that one way to stimulate Bulgarian production was to regulate the relations between producers and big retailers.

The two drew attention to abusive practices of major retailers operating in Bulgaria, such as demands for discounts of up to 60% from local producers, a range of fees for placing their products on the shelves and delays in payments by up to 90 days.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: United Bulgarian Bank, UBB, Stilyan Vatev, bulgarian producer, retailer, retail chain, Bulgarian economy, crisis


» Related Articles: