IMF Believes Political Uncertainty Hinders Bulgarian Growth

Business | June 13, 2014, Friday // 11:04| Views: | Comments: 3
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Bulgaria: IMF Believes Political Uncertainty Hinders Bulgarian Growth Photo by EPA/BGNES

Instability in politics is putting an obstacle to the economic growth in Bulgaria, experts from the International Monetary Fund (IMF) have said.

After a five-day mission to Bulgaria, IMF representatives have issued a statement to outline the basic problems underpinning the political turmoil.

In their message to the media the officials point the weak results of one of the ruling parties and Bulgaria's dependency on Russian energy supplies as factors behind the ongoing instability.

Revenue estimates made by the government also carry certain risks, the experts believe.

They have urged Bulgaria to take measures to boost growth and create employment.

Sofia should also step up its efforts to fight corruption and create a business-friendly environment.

The IMF leader Michele Shannon however added that GDP growth pace is on a moderate rise in Bulgaria. She said this would be caused by increased domestic demand and a higher rate at which EU funds are absorbed.

Macro-financial results, which include low public debt, are preventing the country from being exposed to fluctuations on the international markets.

But the prolonged ageing of the population and emigration are posing challenges to public spending in the long term.

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» To the forumComments (3)
malak petko - 15 Jun 2014 // 20:08:35

Bulgaria has no resource to comply with contradictory demands... it will simply break..

EU commission
they are all working hard here.

Optimistic - 13 Jun 2014 // 20:26:04

Yes the IMF is the International Military Fund they are currently funding the conflict by the Facists in the Ukraine.

Well said novinite.

danRo - 13 Jun 2014 // 17:19:51

Military fund ???????? really?

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