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Bulgaria: FDI fall tenfold between 2007 and 2017

Industrial association, 'total collapse of foreign investments'

29 August, 12:55
(ANSA) - BELGRADE, 29 AGO - The annual flow of net foreign investment in Bulgaria decreased almost 10 times between 2007 and 2017, a report of the Bulgarian Industrial Association revealed, local media in Sofia reported. Foreign direct investments (FDI) into Bulgaria amounted to about nine billion euro in 2007, the year in which Bulgaria entered the European Union, falling to 0.9 billion in 2017, the portal Balkan Insight informed. Fdi were 27.9% of GDP back in 2007, while in 2017 they were only 1.9% of GDP in 2017, "a 15-fold decrease," the news agency Novinite added.

"There is a total collapse of foreign investment in the country," said Kamen Kolev, deputy president of the Bulgarian Industrial Association, quoted by Balkan Insight, while the president of the group, Radosvet Radev, noted that "we have reached a level at which remittances coming from Bulgarians who live abroad outperform foreign investors." (ANSA).

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