Saturday, 22 September 2007

Bulgaria headed for two-year recession – BNP Paribas

The Bulgarian economy will be in the depths of a recession in the next two years with dwindling capital inflows and consumption squeezed by the rising jobless rate, forecast BNP Paribas economist Michal Dybula, a co-author of a report on 2009 global economic outlook.Neighbouring Romania is also in for big trouble with GDP set to drop 0.6 per cent next year, according to the French lender.The Bulgarian...