Monday, November 9, 2015

Parts of Bulgaria recovering from economic crisis, regional differences deepen (study)

A growing part of Bulgaria has been recovering from the economic crisis, but differences in development between the northern and southern regions of the country deepened, a study said Monday.

"The recovery from the crisis has covered an increasing part of the country in 2014, and this trend is most apparent in the labor market," Desislava Nikolova, chief economist at the Institute for Market Economics (IME), told a press conference while presenting the study.

At the same time, several regions such as Vidin, Vratsa, Lovech and Silistra, all of which located in northern Bulgaria, remained isolated from these positive processes, Nikolova said.

"The clear dividing line between the less developed north and the more developed south of the country was confirmed once again," said Nikolova, citing the study that was carried out on the basis of 63 indicators.

All the regions that managed to attract significant foreign investment after the crisis are also concentrated in southern Bulgaria, she said.

In the southeastern Black Sea port of Burgas, foreign direct investment at the end of 2013 cumulatively increased fourfold compared to 2008. It was also clear that the economically strongest regions were characterized by better education and better overall demographic situation.

However, the most economically developed regions led by Sofia, had the highest crime rate and slower justice system, she added.

  Xinhua -


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