bulgarias economy a tale of extremes
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Bulgaria's economy: a tale of extremes

Arab Today, arab today

Arab Today, arab today Bulgaria's economy: a tale of extremes

Bulgaria's average monthly salary is 500 euros, the lowest in the EU
Lovech - AFP

Bent over the machines for hours with headphones to block out the whirring noise, textile workers in Bulgaria, which holds elections Sunday, earn a pittance even after 10 years of EU membership.
"We sew more cheaply here than in China," industry association chief Radina Bankova shrugged in her factory in the northern town of Lovech as her employees cut, stitched and sewed.
The women working here produce high-end clothes for a German fashion brand but with monthly salaries starting at 230 euros ($250), they are unlikely to be able to afford to buy what they are making.
And ahead of the third parliamentary election in four years in the European Union's poorest country, they are not expecting any improvement to their lives any time soon.
"I don't care about politics. Whoever comes, it's all the same. I commute here and I am happy to have a job, as low-paid as it is," said a Roma woman in her 50s employed at the factory.
"We work from 8 am to 5 pm with one half-an-hour break five days a week for the minimum wage. If there is a big order to finish, we also work Saturdays without additional pay," said another worker in a textile company from the town of Dupnitsa.
"Nobody dares to say a word for fear of being sacked."
The textiles and clothing sector was a major employer under communism and 25 years after the advent of democracy it remains the second largest employer, after the state, with about 100,000 workers.
Salaries have improved in recent years but not by much. Workers in similar sectors such as construction, hospitality and farming also earn around 300-400 euros per month.
Bulgaria's average monthly salary is 500 euros, the lowest in the EU, around half the bloc average, and a fraction of what workers earn in western Europe.
The textiles and clothing sector was a major employer in Bulgaria under communism and 25 years after the advent of democracy it remains the second largest employer 
This has put many people off working, leading to a slump in labour force participation rates, and prompted over three and a half million Bulgarians to emigrate since 1990.
In 2016 alone, 30,000 young and highly educated workers upped sticks, taking advantage of the ability to work anywhere in the 28-country EU.
Out of an economically active population of 4.7 million only 2.9 million people work, with the majority of the rest being long-term unemployed or not looking to find a job.
- Silicon Sofia -
But there are also some bright spots, as can be seen in the spacious and peaceful offices of US software company EPAM in downtown Sofia where rows of people work in front of computers.
The sector, which employs 40,000-50,000 people, contributes some 3.5-4.0 percent of Bulgaria's economic output -- twice that of textiles despite half the number of employees.
The average salary in the sector is 1,400 euros per month but industry sources say that top professionals with niche or very specialised qualifications can earn 10 times that.
"(They) can negotiate the same conditions in Bulgaria as in any other Western country in terms of net salary, if you take into account the lower cost of living here," EPAM Bulgaria director and Outsourcing Association chairman Stanimir Nikolov said.
Together with other booming areas like auto parts, Bulgaria's IT and outsourcing sector has attracted billions of euros in foreign direct investment in recent years.
They helped Bulgaria to notch up economic growth of 3.4 percent in 2016, one of the highest rates in the EU.
But putting many investors off is the high level of corruption.
"Decisive action needs to be taken to unburden the economy from monopolisation, cartels and corruption," analyst Evgeni Daynov said.


Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bulgarias economy a tale of extremes bulgarias economy a tale of extremes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bulgarias economy a tale of extremes bulgarias economy a tale of extremes

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday