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Bulgaria is capable of surviving an economical crisis

Submitted on Friday, 26 September 2008One Comment

According to the international agency ‘Moodies’ Bulgaria’s economy could survive bad shock, even though such one is slightly probable. The agency confirmed yesterday the credit rating of the country in long-term obligations in local and foreign currency.

The agency changed Bulgaria’s rating perspectives from positive to stable. In the near future they probably won’t be increased due to the consequences of the financial crisis in the country.

‘There is a significant lowering of Bulgaria’s external debt and the presents financial reserves should be enough to secure flexibility in the periods of financial stress’, said the vice-president of ‘Moodies’ Keneth Orchard.

‘Moodies’ concerns are mainly connected with potential risks of lowering Bulgaria’s external liquidity.

The rating company predicts that international banks would stop granting credits to Bulgaria which could lead to fall in the economical development.

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