BCCI presents the results of the EUROCHAMBRES Economic Survey 2017 (EES 2017)

Moderately optimistic expectations for the development of the economy in 2017, economic growth close to the levels of 2016, but also a certain degree of caution – these are the forecasts of Bulgarian companies expressed in the qualitative survey of business expectations in Europe “EUROCHAMBRES Economic Survey 2017” (EES 2017).

The survey is conducted according to methodology developed by EUROCHAMBRES for the 24^th year in a row, among 50 000 companies from 25 European countries. In Bulgaria, only the Bulgarian Chamber of Commerce and Industry polls the opinion of the business, the country taking part in the initiative for the 18^th time. The survey was conducted among 489 companies, members of BCCI, most of which sale their products internationally (81%).

Bulgaria ranks 6^th among the EU member-states with regard to the optimistic expectations for the business climate (i.e. we can expect to be 6^th by economic growth) in 2017 and 9^th among all the 25 European countries included in the survey.

The smallest shares of positive expectations are reported with regard to employment and investment. The results of the survey show very good employment results in 2016, which even exceed the expectations, but slightly less positive forecasts for its growth in 2017. With regard to investment, drastic improvement is not expected – 58% of the surveyed companies expect that it will preserve its level in 2017, 12% expect a decrease in investment, and 30% expect growth.

Economic policy conditions are listed as one of the main expected challenges in 2017, cited by 36% of the surveyed business managers. Entrepreneurs need predictable economic conditions in order to plan their long-term activity.

24% of the surveyed managers expect that domestic demand will be one of the most serious challenges for them in 2017.