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Global financial crisis to facilitate gray economy

Date: 04.12.2008

Bulgaria's Economy Minister Petar Dimitrov stated Wednesday that the global financial crisis is likely to have the effect of pushing legal businesses into the gray economy.

The Minister pointed out the consequences of the financial crisis would lead to more brutal competition, and would exert pressure forcing many more companies and workers to get into the gray sector.

During a round table in Sofia Wednesday, Dimitrov and the Finance Minister Oresharski disagreed over the pros and cons of the introduction of the euro as a parallel way of payment in Bulgaria.

The Economy Minister said this would have the effect of lowering the inflation, whereas the Finance Minister retorted the introduction of the euro at a this wold bring more negatives than positives.

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