Банкеръ Weekly

Briefs

USD INVESTMENTS TOTAL USD531MN

The road of Bulgaria's accession to the European Union (EU) is 'well-paved'. Our country will bring to the orderly European family financial, economic and ethnic stability, Foreign Minister Solomon Passy said in a lecture for the 10th year since the US Chamber of Commerce is operating in our country. Bulgaria reported a 6% growth of the gross domestic product (GDP) in 2004, which is record high for the last 15 years, Economy Minister Milko Kovachev announced. The private sector already accounts for over 70% of the economic growth, the middle class increases, and the activity of Bulgarian entrepreneurs picks up. Mr. Kovachev specified that during the years of Bulgaria's transition period the USA invested more than USD531MN in our country. Bilateral commercial exchange totalled USD763MN last year, with a trade surplus for Bulgaria. This is a good signal for American investors who are very interested in the IT sector, in power engineering and telecommunications, the Economy Minister pointed out. The US Chamber of Commerce is a powerful stimulator and supporter of bilateral relations, the US Ambassador to Bulgaria, H.E. James Pardew said. He forecast a boom of American investments in this country over the next few years.

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