Bulgaria

In-depth country-focused analysis on Bulgaria's economic, political and operational risk environment, complemented by detailed sector insight

Our comprehensive assessment of Bulgaria's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Bulgaria, as well as the latest industry developments that could impact Bulgaria's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Bulgaria before your competitors.

Bulgaria Country Risk

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Core Views: Early elections in October offer the opportunity to break Bulgaria's legislative deadlock and bolster commitment to wider European integration. We see only limited threat to the...

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Bulgaria Industry Coverage (19)

Autos

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Passenger car sales in Bulgaria increased 25.2% y-o-y in 4M14, to 6,478 units. Despite this strong growth, BMI maintains a bearish outlook on consumer sentiment and private consumption growth in the...

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Commercial Banking

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Commercial Banking Sector Indicators Date Total assets Client loans Bond portfolio Other Liabilities and capital Capital Client deposits Other...

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Consumer Electronics

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BMI   View:   Notwithstanding   the short term challenges presented by the current weak economic environment we consider the consumer electronics market in Bulgaria to have strong medium-...

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Defence & Security

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BMI View:   Bulgarian defence spending has fluctuated in recent years while broadly maintaining a downward trend. In 2014 we expect the country to spend around USD620mn on defence, down from...

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Food & Drink

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BMI View:   Household consumption growth surprised to the downside in 2013, contracting by 2.3% compared with our previous projection for 0.8% growth.  Despite some stabilisation in the...

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Freight Transport

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BMI View: Political instability in Bulgaria will continue to stifle private consumption and investment, weighing on headline growth through 2014 and proving detrimental to the country ' s freight...

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Information Technology

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BMI View: T he Bulgarian IT market is one of the least developed in Europe, with relatively low penetration of hardware among consumers and enterprises. It also trails many of its regional peers in...

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Infrastructure

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BMI View: We currently forecast 1.3% real growth in Bulgaria's construction industry for 2014, a return to positive growth after five consecutive years of contraction. The industry's recession...

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Insurance

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BMI View: As of mid-2014, the newsflow from Bulgaria's small insurance sector confirms our view that premium growth will likely be fairly anaemic in both the non-life and the life segments. In...

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Medical Devices

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Espicom Industry View : Bulgari a represents one of the small est medical de vice markets in the EU, at US$235.5 mn in 2013. Per capita spending is low at US$ 3 3 , indicating considerable...

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Mining

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BMI View : Bulgaria's mining sector will remain a relatively small mineral producer in Eastern Europe focused primarily on supplying domestic industry. We forecast minimal production...

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Oil & Gas

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BMI View: The Bulgarian business environment remains challenging , suffering from high levels of corruption and inefficiency , while a moratorium on hydraulic fracturing remains in place ....

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Petrochemicals

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BMI View: The short-term outlook for the Bulgarian petrochemicals industry will depend on the performance of external markets with Germany likely to be crucial to growth . However, in the long-...

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Pharmaceuticals & Healthcare

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BMI View: T he Ministry of Health 's plan to increase MAH fees, coupled with price cuts for generic drugs and freezes on OTC medicine prices indicate that the Bulgarian pharmaceutical...

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Real Estate

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BMI View: Bulgaria's commercial real estate market is show ing signs of life in 2014, with the most recent set of industry indicators pointing to an uptick in demand and rental activity across...

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Retail

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BMI View: A relatively immature retail sector will continue to provide investors with opportunities to secure 'catch-up' growth, while February retail sales data also provides cause for optimism...

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Shipping

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2014 Growth Forecast Reduced Based on recent economic activity data BMI is rebalancing its GDP estimates and forecasts for 2013/14, against the background of a somewhat faltering economic recovery...

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Telecommunications

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BMI View:   The market correction in Bulgaria's mobile market continued in Q114 after two consecutive years of contraction in FY12 and FY13. However, we retain our forecast for the market to...

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Tourism

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BMI View: We believe that the low cost of land and lack of luxury accommodation make for a good investment environment for international hoteliers and this is likely to encourage further...

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