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Bulgarian companies expect recovery not earlier than end of 2022

Analysis

Photo by FOXARTBOX/Shutterstock.com

According to online survey by the Bulgarian Chamber of Commerce, 79% of the companies reported deteriorating economic indicators of their enterprise, wrote the local website Novinite.com.

Around half (50.6%) predict that they will be able to restore their economic condition by the end of 2022. The largest percentage of participants (28.6%) is from the hotel, restaurant and travel agency sector.

Just over 18% of companies surveyed predict they will recover by the end of this year, while 26.1% see a more distant timeline (after 2022), and 0.4% declare that they have ceased operations, respectively - will never recover.

Seventy-four percent of all respondents rely on measures to support employment, and 68% need liquidity support, incl. for 12 months (47.3%), for 6 months (14.9%), for 3 months (2.9%) or for a period longer than one year (1.7%). Some 54% percent of respondents expect to have difficulty repaying their bank debts after the expiration of the banking moratorium. The study was conducted in the period 13-15 April 2021.

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