Bulgarian non-financial cos expecting to close increase in Oct - stats office

Bulgarian non-financial cos expecting to close increase in Oct - stats office

The percentage of non-financial enterprises in Bulgaria expecting to close their business due to the coronavirus crisis rose on a monthly comparison basis in October, the National Statistical Institute (NSI) said.

In October, as many as 2.3% of non-financial enterprises expected to discontinue their operations in a month's time because of the pandemic, which compares to 2.1% in September, the NSI said in a statement earlier this week, citing the results of a survey it had conducted among nearly 3,800 companies employing approximately 230,000 people.

The results of the October survey also showed that the majority of the respondents, 94.2%, expected to continue to operate as usual in November, while 1.7% planned to temporarily suspend operations.

According to the survey, 14.1% of the companies put employees on paid leave in October. Firms whose employees worked from home represented 11.7% of all respondents.

The results of the survey also show that 29.3% of the companies recorded lower monthly operating revenues in October, while the majority of respondents, 53.4%, reported no changes. As many as 17.1% saw a month-on-month growth in revenue in the months under review.

Half of the companies active in culture, sports, and entertainment, 30.9% of the companies active in trade, transportation, and food service, and 30% of the companies active in the industry sector, saw their revenues decline in October.

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