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Do you think that the America for Bulgaria Foundation's promotion of gay rights is somehow harming your economy? "The privatisation therefore was more of an em
by timthelion 9y ago
Do you think that the America for Bulgaria Foundation's promotion of gay rights is somehow harming your economy?
"The privatisation therefore was more of an emergent act of saving the failed state enterprises. They were sold for pennies because they couldn't export their production and the domestic market was dire." I do not know the situation in Bulgaria, but in the Czech Republic, the enterprises which were bought by the elites and foreign interests were not failing, and several ex-communists have become USD billionaires by having "purchased" them.
- bluetomcat 9y agoFew of the privatised enterprises in Bulgaria actually remained profitable, but their new owners (ex-communists and foreigners with questionable reputation) benefited greatly mostly from inheriting their assets like buildings and production lines, which were quickly disassembled and sold for hefty sums. Those money were then spent on luxury cars and political bribery, not reinvested in any way.