Bulgaria – Optimistic Employment Outlook
Currently Bulgaria is expecting a greater economic growth following the overcome of the world economic crisis negative implications. Unfortunately, however, the country lacks in political stability in the last few months and the early parliamentary election should resolve most of the state internal problems.
Despite the negative impact of some of the above described circumstances, businesses in Bulgaria seem optimistic for their future. Evidence for that are the recent officially announced results of a specific sociological research among local companies on their business outlook for the upcoming 12 months.
More jobs in the next 12 months
The plans of many businesses include hiring more people than the last year. Although the results of the previous period are rather exacerbated to be used as a comparative ground, optimistic tendencies are distinct. The actual economic growth (although rather low) in the last few years affects positively the local labor market as well. That is the main reason why many businessmen plan to hire further employees.
More employment in South Bulgaria, slower recovery in the North
Tendencies logically indicate that Bulgaria’s southern regions will perform better than the northern ones as a result of the different economic development of both regions. The country’s south naturally has higher economic achievements and businesses there can count on more considerable financial resources from both local and foreign investors as well as European funding.
Funding from European programs is considered a key financial source at this stage. Not surprisingly, there is great competition in the processes of application, approval and consumption of those financial incentives – they represent an important tool for further development of every small and medium-sized business project.
Although the country’s image was partially damaged by the internal political unrest, Bulgaria’s economy seems stable, and businesses – optimistic (most likely realizing the worst is behind). And most importantly – the business environment and economic entities demonstrate temperance, predictability and maturity which are a main prerequisite for the accomplishment of especially high adaptation to dynamic business processes on both national and world level.