Bulgaria's FinMin Foresees No Serious Impact of Brexit

Bulgaria's FinMin Foresees No Serious Impact of Brexit

UK voters' decision to leave the European Union is unlikely to affect Bulgaria substantially, the country's Finance Minister Vladislav Goranov has said.
Goranov has told Kapital newspaper Bulgaria might even benefit from this week's developments as Europe could pursue further integration in response to Euroskepticism, triggering a speedy accession into Schengen and the Eurozone.
"Our trade turnover with Britain is relatively small and no direct effect is expected in this sense," he has added.
As a short-term result, Brexit might cause consumption within the EU to shrink and curb economic growth.
In the long-term, countries with substantial trade turnover will be affected negatively, Goranov has added.
National statistics data shows Bulgaria's trade with the UK amounted to 956.4 million levs in exports and 868 million levs in imports, much below the turnover with neighboring Romania and Greece, but also with other EU members such as Germany, France, Belgium, Italy, Spain, and Poland.

Sofia News Agency

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