In 2023, Bulgarian companies experienced a revenue decline for the first time in a decade, with total revenues decreasing by 0.95%, reaching 607.9 billion BGN. Accounting profits also dropped by 1.72%, while tax losses increased by 14.47%. Despite this, key sectors such as trade and manufacturing continue to be the driving forces behind economic activity.

Impact on Businesses in Ruse

As a significant industrial and logistics center in Bulgaria, Ruse remains highly dependent on the trade, manufacturing, and transport sectors. Despite the overall decline in revenues at the national level, these sectors demonstrate resilience and continue to play a leading role in the country’s economy.

Key Sectors Influencing Ruse’s Development

• Trade: In 2023, the trade sector at the national level generated a profit of 10.5 billion BGN, confirming its leadership in the economy. Ruse, with its growing trade and logistics infrastructure, has the potential to attract even more investment in this sector. In recent years, the city has reinforced its position as a logistics hub connecting Bulgaria with international markets.
• Manufacturing: This sector remains crucial for the region, with a national profit of 8.4 billion BGN. Ruse hosts numerous enterprises focused on the production and processing of products ranging from metals to food, and continues to play a key role in the country’s industrial development.
• Transport and Logistics: With its strategic location at the crossroads between East and West, Ruse continues to be a critical logistics center for freight and transport flows. The development of river and land transport infrastructure contributes to the sustainability of this sector, which continues to support the region’s economy even in times of economic instability.

Growth and Adaptation Prospects

Despite the challenging macroeconomic environment, Ruse has opportunities to capitalize on its strategic location and well-developed trade and manufacturing sectors. Improving infrastructure and attracting new investments in transport and logistics can contribute to the region’s sustainable economic growth. It is essential for local companies to invest in technological innovation and seek new markets to maintain their competitiveness.

Conclusion

In 2023, economic challenges affected companies across Bulgaria, including those in Ruse. However, sectors such as trade, manufacturing, and transport have shown resilience and remain key drivers of the region’s development. Investments in these sectors and the continuous improvement of infrastructure will be crucial factors for Ruse’s economic growth in the coming years.

Source: Online edition of Capital newspaper. The original article can be read [here]. 

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