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Bulgarian Industrial Association: Demand for work force will only restore at end of 2020

published on 5/4/20 1:27 PM

Radosvet Radev, president of the Bulgarian Industrial Association

Photo: BGNES

The loosening of the measures against the spread of Covid-19 in Bulgaria will not directly affect employment levels. Unemployment will continue to rise for at least another 2 months, officials from the Bulgarian Industrial Association (BIA) predict. Hiring new personnel can only be expected to happen at the end of 2020.

BIA President Radosvet Radev is not optimistic about the country's economic recovery because of the many conditions to businesses, the need for significant investment and the expected shrinkage in consumption.

Probably, the economic recovery will begin in the autumn, Radosvet Radev predicts. In the summer, most businesses, including our Western partners, are in an August vacation mode and almost do not operate. My feeling is that companies will start recruiting new workers in the 4th quarter of the year, Radev believes.

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Radio Bulgaria News Up-to-date information BIA Bulgarian Industrial Association Covid-19 crisis economic recovery Radosvet Radev