Greek investment in Bulgaria down four-fold on crisis
20.11.2009, 17:45
Bulgarian exports shrink 34% in Jan-Jun
Greek investment in Bulgaria for the first half of 2009 dropped over
four-fold to EUR 69.6 million, official data of the Bulgarian National Bank
show. The slump is due to the downturn and not to the declining interest of
Greek businesses in Bulgaria, Ioanna Sotirakou-Yannaros, head of the economic
and commercial section of the Greek embassy in Bulgaria, said. Currently the
number of Greek companies is about 600.
Greece was the third biggest investor in Bulgaria by June, outstripped only
by Austria and the Netherlands with a total investment of EUR 2.8 billion. The
volume of Greek investment since 1996 has reached EUR 3 billion with property
companies, banks and industrial enterprises being the most active.
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At the same time Bulgaria's exports to Greece shrank 34% for the first six
months of 2009.