Sofia Stock Exchange has been the top performer in South East Europe since the beginning of the year, according to a Financial Times ranking.
With a rise of 29% in USD terms and 22% in local currency, Bulgaria has posted the world's best performance results in USD and lies second only to Zambia in local currency.
According to the article the markets in the region have benefited, first of all, from the coherent international support extended by the European Union and the International Monetary Fund from 2008 onwards, with programmes for Hungary, Romania, and Serbia. These combined well with the Vienna Initiative, an informal grouping of multilateral agencies and international banks active in eastern Europe, which successfully put pressure on the banks to continue investment in the region.
While it was clear by mid-2009 that the region would avoid financial meltdown - and that Europe had much bigger difficulties in Greece, Ireland and Portugal - it has taken time for confidence to return. The key point is that there are no signs that conditions are getting any worse .. and that is critical for astute investors seeking bottom-end opportunities.
Also, unlike the EU's Mediterranean problem countries, public and private debt levels are generally low - around 75 per cent of GDP for Romania and even less for Bulgaria.
Bulgaria's only stock exchange became a public company in the middle of December last year after the Financial Supervision Commission approved its prospectus and the bourse was listed on its own platform. The capital of the bourse is a total of Bulgarian Leva (BGN) 6,582860 in shares at BGN 1 each.
At the beginning of October 2010, Bulgaria's Finance Ministry raised its share in the country's stock exchange from 44% to 50% plus one share through the purchase of an additional 715000 shares apiece. The bourse now plans to sell the remaining 50% held by investors including brokerages and banks into the public domain.
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With a rise of 29% in USD terms and 22% in local currency, Bulgaria has posted the world's best performance results in USD and lies second only to Zambia in local currency.
According to the article the markets in the region have benefited, first of all, from the coherent international support extended by the European Union and the International Monetary Fund from 2008 onwards, with programmes for Hungary, Romania, and Serbia. These combined well with the Vienna Initiative, an informal grouping of multilateral agencies and international banks active in eastern Europe, which successfully put pressure on the banks to continue investment in the region.
While it was clear by mid-2009 that the region would avoid financial meltdown - and that Europe had much bigger difficulties in Greece, Ireland and Portugal - it has taken time for confidence to return. The key point is that there are no signs that conditions are getting any worse .. and that is critical for astute investors seeking bottom-end opportunities.
Also, unlike the EU's Mediterranean problem countries, public and private debt levels are generally low - around 75 per cent of GDP for Romania and even less for Bulgaria.
Bulgaria's only stock exchange became a public company in the middle of December last year after the Financial Supervision Commission approved its prospectus and the bourse was listed on its own platform. The capital of the bourse is a total of Bulgarian Leva (BGN) 6,582860 in shares at BGN 1 each.
At the beginning of October 2010, Bulgaria's Finance Ministry raised its share in the country's stock exchange from 44% to 50% plus one share through the purchase of an additional 715000 shares apiece. The bourse now plans to sell the remaining 50% held by investors including brokerages and banks into the public domain.
Related articles:
More Positive Economic News - Airport Passengers Climb
More Positive Economic News - Car Sales Rocket
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