Bulgaria: Close to 38% of non-financial businesses saw revenue drop in August

Bulgaria: Close to 38% of non-financial businesses saw revenue drop in August

A poll by Bulgaria’s National Statistical Institute (NSI) has found that 37.6 per cent of non-financial enterprises in the country saw their revenues decrease in August 2020 compared with July.

The poll was the sixth in a series done by the NSI to assess the impact of the Covid-19 crisis on businesses in Bulgaria.

About 49 per cent of the 1270 businesses – representing about 74 000 employees – said that their revenue in August was unchanged compared with July, while 12.8 per cent said that their revenue went up.

About 44.8 per cent of businesses in the industry category saw their revenue fall, in the arts and entertainment category the figure was close to 38 per cent, while in the wholesale and retail trade, motor vehicle repair, transport and food service sector, the figure was 26 per cent.

Just more than 35 per cent of the firms in Bulgaria’s construction sector surveyed said that their revenue in August was lower than in July.

Close to 28 per cent of firms sent staff on paid leave in response to the crisis, while close to 12 per cent sent staff on unpaid leave.

More than nine per cent had staff working from home, while close to eight per cent dismissed employees in response to the Covid-19 crisis.

About 94.5 per cent expected that they would be able to stay in business in the coming months, two per cent expected to have to suspend operations, while 1.8 per cent said that they expected they would have to close down.

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