Deputy Finance Minister: Bulgaria Already Feels Positive Crisis Effects
Bulgaria is already experiencing the positive effects of the global financial crisis, according to the Deputy Minister of Finance, Lyubomir Datsov.
During a conference dedicated to Bulgaria's "Financial Sector in the Context of the Global Financial and Economic Crisis" in the city of Plovdiv on Wednesday, Datsov said that Bulgaria was to benefit as the crisis was going to reduce its inflation and current account deficit.
According to Datsov, Bulgaria is going to have an inflation of between 3,5% and 4,5% in 2009, which is a substantial decrease compared to the 12% in 2008. The economic growth, however, is expected to be below 2%.
At the same time, while the current account deficit might be reduced, the crisis would also mean a decrease of the attracted foreign investments.
The official figures of the Bulgarian government in the 2009 State Budget envisage an economic growth of 4,5% in 2009.