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Bulgaria business predicts bankruptcy of construction companies

Date: 08.10.2008

Construction business in Bulgaria will be affected by the global financial crisis and bankruptcy of small construction companies is expected, Chair of the Bulgarian Industrial Association Bozhidar Danev announced.

"That is why I insisted the budget surplus needed to be spent on infrastructure, which would have backed the sector," Mr Danev told reporters.

Many of the seaside projects will not be realised, as well as projects in less attractive sites in Sofia, the expert added.

According to Danev, the problems on the market were predictable and those who made unwise investments are to bear the brunt.

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