From a booming economy and 7% annual growth in 2007 Bulgaria is entering a severe recession, latest estimates show.
Factories close every day, thousands of workers are laid off and major construction projects have stopped.
Large operations like the Sofia steel manufacturer "Kremikovtzi" have run into debt and its employees are on strike because they didn't receive their salaries.
Interest rates have risen sharply, future home owners are facing forclosures and banks don't give loans.
Its like a nightmare. I can't believe it spread from America to affect us here, thousands of miles away, although a bit late but we are hard hit.
There is panic among the population, people are afraid they are gonna lose their jobs and can't repay their mortgages.
Factories close every day, thousands of workers are laid off and major construction projects have stopped.
Large operations like the Sofia steel manufacturer "Kremikovtzi" have run into debt and its employees are on strike because they didn't receive their salaries.
Interest rates have risen sharply, future home owners are facing forclosures and banks don't give loans.
Its like a nightmare. I can't believe it spread from America to affect us here, thousands of miles away, although a bit late but we are hard hit.
There is panic among the population, people are afraid they are gonna lose their jobs and can't repay their mortgages.