Bulgaria’s Mining Production to Drop 5-10% in 2015

Mining production in Bulgaria will drop by 5-10% in 2015, according to Lachezar Tsotsorkov, Chair of the Management Board of the Bulgarian Chamber of Mining and Geology.

In a Thursday interview for the Bulgarian National Radio (BNR), Tsotsorkov said that the unfavorable tendencies that had started in 2014 were most likely to remain in place in 2015.

Among the negative trends he listed low prices of basic raw materials and of items traded at the commodity exchange, low rates of economic growth in key world economies, and a reduction in raw materials demand, stressing that they were expected to persist over the next decade.

Meanwhile, Ivan Boykov, Executive Director of the Bulgarian Construction Chamber, told BNR that he was hoping for growth in the construction sector due to the support of the state.

“Operational programs expire in 2015. We need to absorb a remaining sum of over BGN 2.5 B under OP Environment and under OP Regional Development, we need to make sure that three motorways start functioning, and a home energy retrofit program is starting,” he stated.

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