Cleves News: Weathering the economic crisis
Weathering the economic crisis

Weathering the economic crisis

In an intensely gloomy economic environment, Bulgaria seems to have a better grip on the problems than many other EU nations.

Its economy is currently the fifth fastest growing in the EU, it has the second lowest public debt in the EU, and last July Moodys gave Bulgaria the only sovereign rating upgrade in the EU since the global crisis began in 2007.

Tourism figures are up, absorption of EU funds has improved greatly, and exports remain strong. For January to November 2011 Bulgaria's exports to non-EU countries increased by 26.5% year on year. Exports to the rest of the EU increased by 33.8% year on year.

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