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BSK: The salaries in Bulgaria increase despite the crisis

Submitted on Monday, 3 August 2009No Comment

Contrary to economical logic and despite the shrinking of the economy and increase of unemployment, the salaries of the working class is increasing and the consumption of goods has not been limited.

Such a turn of events is exceptionally dangerous, considering the conditions of the currency board and the devaluation of the currencies of the main trade partners of the Republic of Bulgaria, states the report of the Bulgarian business chamber.

The industry produce of the European Union has been decreasing since May last year, and for the first quarter of 2009, the average decrease per year reached one fifth.

The temp of this decrease began to slow down and the first noticeable increase of production compared to previous months was seen in may 2009.

Nevertheless, the certainty with commissions and other indicators that slow down over time continue to decrease.

The first negative signs in the production of Bulgarian industry show up in August 2008, when comparisons showed that it was lower than the same month in 2007.

In May 2009, the decrease of industry production is 22% on a yearly basis, and of 1% compared to April. The overall picture of the crisis contains hidden development trends on a sector level.

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