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Bulgaria FDIs Set to Reach EUR 4 M End-2009

Date: 15.09.2009

Foreign direct investments in Bulgaria this year will mark a sharp decline with forecasts saying they will be down by nearly EUR 2 B in comparison with last year.

"Foreign direct investments in Bulgaria by the end of this year will not exceed EUR 4 B," Director of the InvestBulgaria Agency, Stoyan Stalev, said on Monday.

The forecast beats previous analyzes, which painted a much gloomier picture and set the downfall at about 50%.

A total of EUR 1,6 B poured into Bulgaria during the first half of the year, which Stalev described as a good result against the background of the global financial and economic crisis.

France has joined the group of top investors in Bulgaria and leads the ranking together with the Netherlands, Austria and Germany.

The real estate sector has retained its momentum even though being one of the worst-hit by the crisis and ranks third in the amount of attracted investments, following the financial services sector and commerce.

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