1. What makes your country attractive to investors?
The prospect of EU entry in 2007, coupled with rapid transformation and impressive growth. Bulgaria’s currency is pegged to the euro and wage levels are attractive. Bulgaria is also a very good platform for regional development.
2. What are the economic prospects for your country over the next three to five years?
Economic growth is likely to remain strong in the medium term. Most analysts agree that import of goods and services will continue to exceed exports. Although this is regarded as a major concern by the central bank and the IMF, company credits are needed to boost the competitiveness of local enterprises and future economic growth. Investments will continue to register a double-digit growth. EU entry will also provide access to supportive funds from the EU budget.
3. How do you foresee the financial sector in your country changing?
The banking sector will remain competitive and consolidation will intensify. The leasing market is also expected to have high growth rates. The fund management business will continue to gain momentum as a result of demand for alternative investment instruments. The financial sector will preserve its robust growth due to significant catch-up potential.
4. What role will your bank play in your country’s future development?
Raiffeisenbank Bulgaria will continue to be active in the retail and SME segments. We are committed to playing a key role in municipal financing, as well as in investment banking, particularly debt origination. By end-2005, we hope to finalise the set-up of the Raiffeisen financial group in Bulgaria.
