Bulgarian economy rebounds in 2013

Business climate in Bulgaria has improved in 2013 and companies are more optimistic about the next year, according to a survey released Monday. The survey, conducted by the Bulgarian Industrial Association, found that 22 percent of the 462 company managers and owners polled felt the business environment was better in 2013, while only 2 percent saw a positive change in 2012. Meanwhile, 53 percent said the country's economic conditions have deteriorated, against 75 percent of those polled at the end of 2012. In addition, a third of the respondents expected a growth of more than 1.5 percent in 2014 and 25 percent of those polled predicted a deepening of the crisis, while last year's rates were 16 percent and 51 percent respectively. About 32 percent of respondents said the economic condition of their company had deteriorated in the current year and 29 percent saw improvement of the indicators, against 46 percent and 16 percent in 2012, the survey showed. In terms of business plans for 2014, 62.5 percent of companies planned to develop new products and services, and 54.7 percent intended to increase their output. The figures in the last year's survey were 49 percent and 35 percent respectively.