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Yesterday, the Wall Street Journal published a surprisingly optimistic article titled Bulgarian Economy Stabilizing.
According to it, Bulgaria is coping with the financial crisis better than its neighbors. The country has delayed its application to the Euro zone (we are EU members since 2007), so that it might close the budget gap without raising taxes or having wage and pension cuts.
The WSJ notes the fast-developing infrastructure in Sofia and the new business centers and modern shopping malls that sprout like mushrooms (Ha! I used the same expression in my previous post.)
Despite the positive signs economists see in the numbers, Bulgarians are still persuaded that they are in the midst of the crisis. From my point of view, many businesses have closed down or are struggling. Many of the windows on the main shopping street, Vitosha boulevard, are empty. All sorts of shops and services offer great discounts and value packages. People travel less and prefer more economical means of recreation and entertainment.
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