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BCCI: The registered decrease of the total business climate indicator by 3.3 percentage points in August is not dramatic

The Chamber receives optimistic signals from the business


 In August this year, the total business climate indicator decreased by 3.3 percentage points compared to its July level, according to the National Statistical Institute. Commenting on the data for the Bulgarian National Radio, Aleksandar Dimitrov, Economic Analyst at BCCI said that the decrease of 3.3 percentage points is perfectly normal. “It is important to know the starting base. Every year BCCI conducts a survey of the business climate as part of EU-wide study. According to this year’s results, 57.2 % of the surveyed businessmen have positive expectations and 9 % - negative ones. Therefore, our advice is to carefully observe the trends, but not to give the impression that the business climate is unfavourable”, Dimitrov added. 

Export-oriented companies are concerned about a possible stagnation in the EU. This is one of the reasons why the business climate assessment changed in a negative direction. We cannot speak of economic sectors which are suffering as a whole. There are seasonal sectors, and also in each sector there are companies which prosper and companies that are having difficulties. This is the position of BCCI. 

Negotiations for the social insurance thresholds in 2013 show that in some sectors an agreement for 15 % higher minimum insurable income has been reached – e.g. in production of apparel and knitted garments; 8.1% - in the Central Cooperative Union; 9.4% in agriculture and farming, etc.

BCCI’s classification “TOP-100” shows that there are companies with excellent results without having monopoly of the market. 

“The fact is that according to the NSI there has been GDP growth by 0,2 % as compared to the overall EU decrease by 0.2 %. The fact is that according to NSI there is a budget surplus. In some sectors of industry the situation is different. There are companies which prosper significantly. This is evident from the negotiations that are currently underway about the insurance thresholds. There are many things in the economy of the country that need to be done. We recommend that there is as little interference by the administration as possible. The administrative fees and regulatory regimes are too many”, said the Economic Expert of the Chamber.

There won’t be dramatic bankruptcies, predicted Aleksandar Dimitrov for the Bulgarian National Radio. 

31.08.2012

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