As happens every quarter, Infomercatiesteri.it has recently published the macroeconomic data relating to Bulgaria. This is an important photograph for those who invest or are thinking of investing in this country, as it also immediately provides an indication of the state of health of the Bulgarian economy. An important starting point for those considering bringing their business here.
This is why we at VR and Partners believe it is important to share and comment on them with our customers but also with those who simply follow us through our blog or on the social networks on which we are active. In fact, we believe, and it is a belief that accompanies us in our everyday work, that having clear, impartial and correct information is the first step towards a good investment, whatever the sector in which we operate.
Well, analyzing this data there are indicators which, also based on our experience in the field here in Sofia, tell what is happening in Bulgaria in recent years. Let's look at GDP for example. We all know how the Covid 19 emergency has "destroyed" the gross domestic product of economies that are much more structured and consolidated than the Bulgarian one. However, even in the black year of Covid, 2020, Bulgaria was able to boast a GDP which, albeit slightly, settled at levels higher than those of 2019. It is said that one swallow does not make a summer, and in fact the strong the growth drive of the Bulgarian economy is strongly confirmed both in 2021 and next year in which there will be levels of GDP almost 10% higher than those pre-Covid.
The reasons for this boom? Well they can certainly be traced back to two factors. The first and perhaps also the most important is that relating to the aggressive tax policies in force in Bulgaria, with a maximum taxation of 10% for both natural and legal persons.
A second important growth factor is the low cost of labor which invites many foreign companies to relocate factories and offices here in Bulgaria where, not surprisingly, and the data from Infomercatiesteri.it confirm this, theunemployment rate is stuck at 6.7% and, next year, it will be even lower.
A nation that does not use the fiscal ax but rather rewards its entrepreneurs and offers a dynamic, well-trained workforce and also at costs much lower than European standards.
This explains the Bulgarian boom we are witnessing in recent years. A boom that you too can be part of. Contact us to ask us how Bulgaria can become a place of growth for your company or in general for your business; our consultants will be at your disposal to provide you with all the information you need.
