Sofia, Nov 9 (BTA/GNA) – Last year brought favourable conditions for both economies and the largest businesses in Central and Eastern Europe (CEE). Although still faced with challenges from the Covid-19 pandemic, economic activity in Central and Eastern Europe has recovered from the slump in 2020. As a result, the region’s 500 largest businesses recorded soaring revenues and higher profits in 2021, says the 14th annual Coface CEE Top 500 ranking of the largest companies for 2021, received today by BTA.
According to the study, while the region recorded a milder recession in 2020 with average GDP growth reaching -3.7% compared to -5.5% in Western Europe, CEE’s recovery in 2021 was also more impressive, reaching 5.7% compared to 4.7% in Western European economies.
This year, 25 Bulgarian companies are included in the ranking of the largest companies. Among the top-ranked Bulgarian businesses are Bulgarian Energy Holding, Aurubis Bulgaria, the National Electricity Company, and Evrohold Bulgaria.
More Bulgarian companies are included in the Coface CEE Top 500 than in 2020 and this is quite understandable, says Plamen Dimitrov, Managing Director of Coface Bulgaria. Quite a lot of businesses have benefited from the government’s recovery measures and the recorded growth in turnover was somewhat predictable. This year, however, business is again at risk due to the macroeconomic turmoil, according to Dimitrov.
BTA/GNA