site.btaBulgarian Industrial Capital Association: 40% of Bulgarian Companies with Pessimistic Expectations for 2023

About 40% of Bulgarian companies have pessimistic expectations about the Bulgarian economy in 2023. Almost 26% believe that the next year will be better, and for the rest it will not be different from the past year, shows data from survey of the Bulgarian Industrial Capital Association (BICA), conducted in the period December 1-19 among 864 micro, small, medium and large companies. The data was released on Friday.

Only a third of those surveyed said they plan to hire new people. The highest share of enterprises, just under 40%, indicated that it is possible to impose layoffs.

Despite the difficulties they expect, Bulgarian employers plan to increase wages. A total of 66% of those who participated in the survey plan to increase salaries by up to 10%. Another 16% plan a more significant increase.

Every 9 out of 10 businesses have also given out Christmas bonuses or "13th paycheck" to their employees.