Bulgaria's economy proves flexible to crisis central bank analysis.

By bne IntelliNews December 6, 2010
Bulgarian economy has proven flexible in dealing with the challenges of the financial crisis, an analysis of the central bank has shown, Bulgarian Telegraph Agency reported. Local companies managed to register profits from the fixed exchange rate of the Bulgarian lev to the euro, Mariela Nenova, head of the Economic Researches and Prognoses Directorate at the Bulgarian Academy of Sciences, said. The monetary fund has prevented the local currency from depreciation and allowed companies to take advantage of the decreased prices of materials, fuels and resources on the world markets. Bulgaria started to feel the impact of the world economic crisis at the end of 2008 with the decreasing shares of exports and industry sector's revenues. The inflow of foreign direct investments also registered a fall, Nenova said. Bulgarians withdrew from investing in long-term material assets and turned to depositing their savings at banks. Demand for consumer credits also started to fall, as a result of the crisis.

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