BULGARIAN CHAMBER OF COMMERCE AND INDUSTRY

Eurochambres’ Economic Survey 2004

In October 2003, the Association of the European Chambers – Brussels carried out for the 11^th time its traditional research on the business climate in Europe, styled Eurochambres’ Economic Survey 2004 and presented in Brussels at the end of 2003.

In 2001, on BCCI initiative, for the first time Bulgaria and other associated countries were included in the Eurochambres’ Survey. The research for Bulgaria is carried out by the Economic Analysis Bureau at BCCI, and about 600 companies were investigated for the purpose. The research was carried out under the uniform methodology of the Association of the European Chambers and includes data about the results of the companies in Bulgaria during 2003 compared to 2002 and their expectations for the business climate in 2004.

The business confidence of companies for 2004 is quite positive. The balance figure for 2003 (4.4%) showed optimistic business confidence but reaches a must higher level (50.8%) for 2004. On the national level, the expectations about business confidence show that companies from the North- Central Region are the most optimistic for the amelioration of the conditions business in the country in 2004. The positive expectations of the companies are mostly connected to forthcoming changes aiming at the improvement of conditions for business (for example decrease of the corporate tax rate; shorting of the period for VAT refund and the forthcoming alleviation of the license regimes).

This document can be downloaded for free from: http://www.eurochambres.be

12 January 2004