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Bulgaria in the spiral of low employment-stagnant incomes-declining population

13 November 2014 / 14:11:25  GRReporter
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     According to the study "Regional Profiles: Development Indicators 2014", the distribution of the amount of foreign direct (cumulative) investment in Bulgaria shows that Sofia remains the undisputed leader both in the period of rapid growth and the subsequent period of crisis and recovery. At the end of 2008, Sofia attracted foreign capital amounting to nearly 11.7 billion euro or 9,383 euro per capita. The region with the lowest performance in terms of these investments at the end of 2008, Kyustendil, managed to attract in 2008 a 70 times smaller amount per local population, or nearly 135 euro. This opens up another huge gap between the regions of Bulgaria in terms of foreign direct investment attracted by them. According to the economists at IME, they are directed to regions where there is a strong or moderate correlation with a number of indicators of the presence of human capital, such as the share of university graduates in the population, mechanical growth and age dependency. Attracting local and foreign investment largely depends on the availability of sufficient workforce and its quality. Therefore, IME stresses that the focus on training and educating the workforce should be leading in the development of national and local strategies for attracting investment.

Tags: Regional developmentNorthern BulgariaSouthern BulgariaInstitute for Market EconomicsLow employmentStagnant incomesDeclining population
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