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Investment in Bulgaria still risky business
Investors interested in setting up business in Bulgaria and Romania face considerably higher risks compared to the countries that joined the EU in 2004.
Even under communism, the countries of Eastern Europe and the former Soviet Union varied widely in the risks they presented to potential investors and trading partners. Today, those gaps have grown into chasms of commercial practice and experience, Financial Times (FT) said.
The eight states that joined the European Union in 2004 are increasingly closely integrated with Western Europe, particularly with Germany.
As the European Commission has pointed out in a report in the summer of 2007, both Bulgaria and Romania face serious problems with corruption and Bulgaria with organised crime.
In Bulgaria, the political position was more stable but the economy perhaps even more vulnerable to external shocks with the current account deficit having soared last year to 14.8 per cent of GDP, FT said.
September 11 2007, source: www.sofiaecho.com
Even under communism, the countries of Eastern Europe and the former Soviet Union varied widely in the risks they presented to potential investors and trading partners. Today, those gaps have grown into chasms of commercial practice and experience, Financial Times (FT) said.
The eight states that joined the European Union in 2004 are increasingly closely integrated with Western Europe, particularly with Germany.
As the European Commission has pointed out in a report in the summer of 2007, both Bulgaria and Romania face serious problems with corruption and Bulgaria with organised crime.
In Bulgaria, the political position was more stable but the economy perhaps even more vulnerable to external shocks with the current account deficit having soared last year to 14.8 per cent of GDP, FT said.
September 11 2007, source: www.sofiaecho.com
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