Text size

Bulgarian Industrial Association: Demand for work force will only restore at end of 2020

published on 5/4/20 1:27 PM

Radosvet Radev, president of the Bulgarian Industrial Association

Photo: BGNES

The loosening of the measures against the spread of Covid-19 in Bulgaria will not directly affect employment levels. Unemployment will continue to rise for at least another 2 months, officials from the Bulgarian Industrial Association (BIA) predict. Hiring new personnel can only be expected to happen at the end of 2020.

BIA President Radosvet Radev is not optimistic about the country's economic recovery because of the many conditions to businesses, the need for significant investment and the expected shrinkage in consumption.

Probably, the economic recovery will begin in the autumn, Radosvet Radev predicts. In the summer, most businesses, including our Western partners, are in an August vacation mode and almost do not operate. My feeling is that companies will start recruiting new workers in the 4th quarter of the year, Radev believes.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News Up-to-date information BIA Bulgarian Industrial Association Covid-19 crisis economic recovery Radosvet Radev

More from category

Cold weather expected on Wednesday, temperatures continue to drop

On Wednesday, the lowest temperatures will range between minus 8°C and minus 3°C, for Sofia around minus 7°C . During the day, snow showers in the northeastern regions will begin to stop, but in southeastern Bulgaria it will still snow in many places...

published on 2/18/25 7:05 PM

Susan Falatko will assume the role of Chargé d’Affaires at US Embassy in Sofia

Career Foreign Service Officer Susan Falatko has arrived in Sofia on February 18 to assume the role of Chargé d’Affaires. Prior to this appointment, Ms. Falatko’s service includes assignments as Deputy Chief of Mission and Chargé d’Affaires at the..

published on 2/18/25 6:54 PM

President Radev: Drug use by young people endangers our nation

Bulgaria's President Rumen Radev convened today a meeting of the National Security Advisory Council, dedicated to the risks and threats to national security arising from the spread of narcotic and intoxicating substances among the younger generation and..

published on 2/18/25 6:50 PM