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Learn how EY can help you navigate through Bulgaria
In the last few years, Bulgaria has enjoyed a period of sustained economic growth and political stability - it has been ranked 61st in the World Bank’s “Doing Business 2020” index, and 17th as an outsourcing destination in A. T. Kearney’s global research.
Pre-COVID BMI reports of 2019 reaffirmed Bulgaria has a promising growth potential over the next decade due to its cost efficient labour, growing political stability and potential for increase in productive capacity. With the country looking well-positioned to attract foreign direct investment (FDI), real GDP growth was expected to average over 2.8% in the next 10 years.
In line with latest global trends, in recent economic reports for Bulgaria a contration in 2020 GDP of 3.0-6.0% is forecasted in various sources (World Bank, Oxford Economics, Ministry of Finance of Bulgaria, Unicredit, etc). In its recent economic report for Bulgaria of June 2020 Oxford Economics forecasted that the economy will recover sharply in H2 2020 with a real GDP growth of 4.7% expected for 2021, and a stabilized rate of 3.04.3% projected thereafter.
Doing business in Bulgaria is a guide with comprehensive tax and legal analysis of the business environment in Bulgaria. It contains various questions that investors might have when trying to find the best destination for their business endeavors. However, economic, tax and legal landscape changes with time and there are a number of details within each industry sector and each company business model that need to be observed. We recommend that you take the time to get acquainted with this guide and should you have specific questions, please contact us.
The full version of Doing Business in Bulgaria 2020 can be downloaded from the "Show resources" tab on the left side of the page.
Summary
Just recently EY published its annual Doing Business in Bulgaria guide for 2020 containing a comprehensive tax and legal analysis of the business environment in Bulgaria.
They have touched upon the various questions that investors might have when trying to find the best destination for their next business endeavour. Of course, everyone needs to be aware that the economic, tax and legal landscapes change with time and there are a number of details within industry sectors and company business models that need to be observed.
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