ECONOMY

Greeks continue to invest in Bulgaria

Greece remains the biggest foreign investor in Bulgaria, amid a dramatic 92 percent decline in foreign direct investments in the first couple of months in the country compared to the same period last year.

Preliminary data by the central bank of Bulgaria put foreign direct investments in the year to end-February at 40.3 million euros, with the country claiming that the biggest share of that is from Greece, totaling 9.4 million euros. Companies from Luxembourg rank second with 7.9 million.

Another major investment by Greek firms will be implemented in the coming months, as the Fourlis and Danaos groups will invest 70 and 50 million respectively in a plan for the development of a mall, a housing complex and a business project on the Sofia ring road, to be completed by 2019. However the shopping center, to be named Sofia Ring Mall, will start operating from next year.