Expert: Bulgaria Could Turn into Switzerland of the Balkans

Opinions | April 23, 2019, Tuesday // 16:34|  views

If the situation in the administration improves, we can expect in the near future Bulgaria to become Switzerland in the Balkans. This is what the Chairman of the Board of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov said.

"There are a lot of data in our country that indicate that the business climate is favorable - some of them are the acceptable level at which the main macroeconomic indicators, stable tax system, budget performance indicators, low national debt to the GDP of the country" he says, adding:

"However, there remain two main problems - labor shortages and the lack of e-government."

Regarding the thesis that the country's economic model has been exhausted, Simeonov points out that the changes could be positive, but the problem is that they are often applied without a preliminary assessment of their impact.

"The Bulgarian economy still has a lot of reserves - first of all we still export raw materials and there is something to be done in this direction," he explains in an interview with BloombergTV.

"Now, for example, we are one of the leaders in Europe in the production of auto parts, it would be better to start exporting them as ready-made cars," added the expert.

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