Tue, Feb 09 2010
Photo: Assen Tonev
By posting a comment, you are deemed to have read and agreed to our
Acceptable Use Policy.
Among European Union member states for which data are available for the second quarter of 2009, the highest annual increase in labour costs was in Bulgaria, at 15.5 per cent.
Jones Lang LaSalle report says Bulgaria is still the most favourable destination in central and Eastern Europe and it will remain to be so – being the cheapest one.
Salaries in Bulgaria and Romania have registered the biggest increase in the European Union in 2008, showed data by Eurostat, the EU's statistical office.
Toyota made a global statement announced that around 436 000 vehicles worldwide are to be recalled for inspection and upgrade, including the latest Prius model which is sold in 60 countries, Bulgaria included
Builders have met all municipal requirements and will also pay to renovate parks.
Non-Bulgarians can also be nominated as long as the company they own or work for has a minimum of five per cent Bulgarian capital.
The Christmas shopping season has not driven up retail sales in Bulgaria, according to the latest data of Eurostat, the EU’s statistical office.
The global financial crisis has slowed down globalisation, but only temporarily, one study says

Yavor Nedev has been appointed head of the state National Agency of Fisheries and Aquaculture. He replaces Yordan Staikov who join the team of advisers of Agriculture Minister Miroslav Naidenov. In 2009, Nedev was appointed by Naidenov as director of the recently-founded state Fishery Resources company, which is to manage fishing ports and operate with EU funds. He has been vice president of the Bulgarian - Swiss Chambers of Commerce as well as president of Cherno More football club in Varna. Nedev has also worked as a political scientist and university professor.
They increased so rapidly because they were so low to start with. I use to employ a man for about €3 a day in Romania.
If Bulgaria higher labor cost increases due to increased productivity and / or better quality of goods and services is the increase in wage costs justifiable. But since I was in Bulgaria, I know that this is not the case. I have never been in a country with such poor service feeling just Bulgaria, and they are investing in production efficiency is quite ossanolikt. Bulgaria will soon be the new Latvia. High wages high inflation, consumption on borrowed money.
Good News for the workers......Short Term
Next comes company overheads now higher than can cope, cheaper foreign imports, cheaper to produce in China, Factory closers down. Watch this space. As cost to produce becomes to high ALL companies look elsewhere for cheaper production, and inevitably end up in the Far East.......