Fri, Mar 19 2010
Unemployment has been rising everwhere, including the UK

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Seven thousand people lost their jobs in October, labour minister says
In total, 297 515 people applied for work in September alone, as unemployment in Bulgaria continues to rise.
Finance Minister Simeon Dyankov said recently ERM II entry remains top of his agenda. He has said Bulgaria will aim to join the 16 countries sharing the euro in 2013.
Tax authorities are trying to be flexible with respect to defaults and lend businesses a helping hand in a bid to ward off bankruptcies.
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe, the report says.
Business environments in the region vary, and so do the public relations markets
New Bulgarian transfer pricing guidelines remove uncertainties, but create expectations

Pepi Ivanova has joined Piraeus Bank Bulgaria as its news press office manager. She will be responsible for the bank's corporate communications and media relations and its subsidiaries - Piraeus Leasing Bulgaria, Bulfina, Piraeus Auto Leasing, Piraeus Insurance Brokerage and Piraeus Best Leasing. Ivanova has 10 years' experience in public relations and banking. She started her career as an associate at the NGO Center for the Study of Democracy and later became an economics journalist at Trud daily. She has also worked as a client service specialist and credit administrator at United Bulgarian Bank. Before joining Piraeus Bank, Ivanova spent seven years working for Globul mobile operator. She has a master's degree in philosophy and journalism from Sofia University St. Kliment Ohridski and a post-graduate degree in banking from the University for National and World Economy in Sofia. Ivanova also holds a diploma from the London School of Public Relations.

Valeria Vidinlieva is the new HR manager of Overgas natural gas suppliers. She will be responsible for the company's corporate social responsibility and for selection and training of staff. She joins the company after 24 years at Stomana Industry metallurgic firm, now part of the Greek Viohalco, where she headed the HR directorate. Vidinlieva is a graduate of Sofia's University of National and World Economy and has a degree in HR from Paisii Hilendarski University in Plovdiv.
It's bad everywhere. That photo up there isn't BG you know...
Well said, expat.
The construction sector will be dying for another 3 years. The tourism industry will not start until there is something to offer them.
"...He said the Bulgarian economy would pull itself out of recession in the second quarter of next year but recovery would be painful."
I will be very much interested if and how this will happen - pulled itsef out of recession. I strongly hope he is right, but I have deepested doubts on this. What industry will be the driver for this, construction (hardly), service (fist have to improve quality), tourism (very unlikely, because of overbuilding and low service quality), industry? (too low productivity). and all this in combination with a strong EUR begged currency...
I fully agree it will be very, very painful and not only in 2010 but also the upcoming years....
This is a very simplified way to price losses. It suggests that liquid money has disappeared while in fact reference is made to the value of real estates, which has been traded on a small scale and has been heavily overpriced anyway in this country. It is also not direcly related to GDP losses, as one can understand later from your message.