The Bulgarian business is moderately optimistic for the coming year
The level of optimism in Bulgaria and in Europe is slightly decreasing. Companies in the country have positive expectations for 2019, but to a lesser extent than in 2018. This show the results of a survey conducted by BCCI among 504 companies in Bulgaria in September 2018. The survey is part of the European Economic Survey - EES 2019*, involving more than 45,000 companies from 26 countries.
“Nearly 54% of respondents in Bulgaria expect an improvement in the business climate in 2019, while in 2018 their share was 63%”, BCCI President Tsvetan Simeonov said at a press conference то present the results of the survey. "The lack of human resources and the prices of energy and raw materials are the main concerns for the companies in Bulgaria. Companies are concerned that they will be unable to cope with the growing demand for their products and services because it is becoming increasingly difficult to find workers with the required profile", added President Simeonov.
Traditionally better expectations for earnings from exports than revenue from sales on the domestic market show the survey results. Slightly over 46% of respondents expect increased sales abroad, 40% are optimistic for higher demand from the local market.
A good outlook for the resumption of investment activity next year show the expectations in 39% of respondents, while in last year’s survey their share was 47%. For employment, the forecasts are for stabilization, with a possible slight growth - the majority of employers, around 63%, expect to keep their staff numbers.
The lack of qualified employees is a problem not only for the Bulgarian business, but also for the European companies - it retains its second place as an obstacle for the European employers. EUROCHAMBRES warn that the shortage of skilled labour suppresses economic growth and there is already a skills-shortage crisis which may seriously impair Europe's competitiveness.
* 26th survey of the business climate in Europe, organized by the Association of European Chambers of Commerce and Industry (EUROCHRAMBRES). Bulgaria is participating for the 20th time. The survey was conducted through a standardized questionnaire. In Bulgaria, the BCCI organizes the survey of companies from all regions and branches (excluding the financial and agricultural sector).
