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GreekReporter.com Business Greece Is Bulgaria's Third Biggest Investor

Greece Is Bulgaria's Third Biggest Investor

Greece - BulgariaThe annual report of the Economic and Trade Affairs of the Greek Embassy in Sofia reveals that Greece was Bulgaria’s third largest foreign investor for 2014.
Greeks poured 2.49 billion euros into the neighboring Balkan country in 2014. Only Austria and the Netherlands made more investments in Bulgaria than Greece during 2014.
The figure represents a small decline in the past two years as investments in Bulgaria had accounted to 2.75 billion euros in 2012 and 2.58 billion euros in 2013.
The above numbers also reflect annual investment into as well as divestment from Bulgaria. The Central Bank of Bulgaria Reports that in 2012 Greeks removed 125.5 million euros from Bulgaria while in 2013 they invested a net 67.5 million euros. Preliminary data from 2014 show a net divestment of 30.3 million euros.
“The main reasons for the attractiveness of Bulgaria as an investment destination for Greeks are the geographic vicinity, the low taxation, in some cases the lower cost of labor and the lower operation costs,” the report reads.

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