Issue 39-40, December 2009 - January 2010

by Gergana Manolova, Timothy Howlett

No, it will not. The economic crisis in Bulgaria has barely started and the so-called recovery in the United States is false. Bulgarian real estate prices have a long way to fall because they are not in parity with rent prices or average incomes.

Ron Leahy, USA

The crisis has been a wake-up call for Bulgaria. Nonetheless, the economic fundamentals are strong – low taxation and an young, educated workforce. The economy has grown year on year for five years plus, and I expect to see a return to growth next year, whereas Western Europe will remain flat.

George Milan, Italy

I see no reason why the crisis should end in Bulgaria in 2010. I believe that neither the government nor the people are prepared to regard "democracy" here as anything other than a means of making as much money for themselves as possible. The pensions are laughable; the people all have "fiddles" where they pay no taxes. Four or five employees in banks or supermarkets do the job of one person. Security guards, doing nothing, are everywhere. The only way to get out of the "crisis," here as elsewhere, is to create real jobs, build the infrastructure, increase pensions and stop the corruption. One short sentence in conclusion. 2010 – no chance!

Mel Krause, Great Britain

I hope so. The rumours say that the crisis will reach its peak in 2010, and after the peak it's logical that there will be relief. In Denmark people are doing the same, they are saving their money because they don't know when the crisis is going to end. But when you don't spend money, there is no way for the economy to revive.

Henriette Holm, Denmark

I think the Bulgarian economic recovery will lag slightly behind that of the West, which has experienced a period of expansion for several months.

Zeno Crockett, USA