Sofia Bourse Value/Number of Transactions Up 30% in 2011

Sofia Bourse Value/Number of Transactions Up 30% in 2011

The Bulgarian Stock Exchange has reported a 30% increase in the value and number of transactions in 2011.

This performance is quite positive on the backdrop of falling industrial output in the country, the financial difficulties experienced by local businesses and flagging retail sales, bourse director Vasil Simov told state-run Bulgarian National Radio.

Simov, however, sees the increase as a result of the lower base from which the Sofia bourse started twenty years ago and noted that not only 2011 but the previous two-three years were difficult for the local stock exchange.

He expects stagnation in local stock prices in contrast to a global trend towards a decrease.

"We enjoy a very good cooperation with the farm ministry and we hope that early next month we will begin trading timber on the Sofia Commodity Exchange," Simov added.

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