Levon Hampartzoumian startled everyone with a grim prognosis

Economic uncertainties are coming, which could turn into trouble. This was said on bTV Radio by Levon Hampartzoumian, chairman of the Bulgarian Business Leaders Forum.

He commented on the economic consequences of the war in Ukraine. According to him, inflation will exceed 10%.

“Let’s hope it will be within 12-13%,” Hampartzoumian said. According to him, there is no universal advice regarding people’s savings in banks.

“People who are in an active economic age should not worry too much, because inflation will actually increase the incomes of these people and companies. However, those who have a fixed income – retirees, rentiers, it is worse for them. For them, this means relative impoverishment. But you can see that efforts are being made to increase pensions, “he added.

According to him, the best way to fight inflation is to produce more goods and services that we can sell at the new inflation prices.

According to Levon Hampartzoumian, the war could also affect the real estate market.

“It will probably slow it down because people, in a situation of anxiety and insecurity, are not necessarily going to buy a home. Of course, those in need of housing will continue to search. Maybe this will lead to a calming of prices to some extent, “he explained.

Regarding interest rates on loans, Hampartzoumian explained that he does not expect a sharp rise.

“One way to curb inflation is to raise the key interest rate, which in the chain leads to higher interest rates. On the other hand, this leads to a slowdown in the economy. A balance will be sought between the factors that influence so that we do not kill our economy with high interest rates, “he added.

He also gave advice to people who are having difficulty repaying their loans. The most important thing is to contact the bank as early as possible for advice and assistance.

Regarding sanctions on Russia, Levon Hampartzoumian noted that the war will seriously affect the standard of living in the country.

“It simply came to our notice then. They live in a separate world, in a lifestyle that is different. But for the middle class, for the workers, for the pensioners, that would mean a significant drop in the standard of living, “he added.

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