Why is another factory closing for auto parts in Bulgaria? Two main reasons. The first is that car production in Europe has stagnated and has no prospect of recovery. China is taking an increasing market share. The second - these are factories that are easily moved to places where their costs are lower.
This commented on "Facebook" Vladislav Panev.
Salaries in Bulgaria are growing, which is great when it doesn't happen administratively. That's why auto parts companies go to Moldova or elsewhere where labor costs are low.
This may also be good news. Incomes are rising here (so are prices), the question is will we be able to keep unemployment low. And this is done with lifelong learning and workforce quality. Otherwise, we remain in the EU income queue.