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EC to Criticize Bulgaria over Growth of Salaries in 2007

Politics » BULGARIA IN EU | February 13, 2008, Wednesday // 00:00

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Bulgaria: EC to Criticize Bulgaria over Growth of Salaries in 2007

European Commission's assessment of Bulgaria's convergence program is expected to be critical with respect to the salaries growth in 2007.

The European Commission is expected to criticize Bulgaria Wednesday for economy "overheating" with respect to the growth in salary rates in 2007.

The critique is to come as part of the annual assessment of the Convergence Program for Bulgaria.

At the end of each year, Member States submit to the Commission their budgetary plans for the following years. These plans are the Stability Programmes, for those countries in the Eurozone, and Convergence Programmes for countries outside it.

The programs seek to outline the respective country's strategy to maintain or reach macroeconomic stability in order to allow the Commission and the Council to conduct the surveillance of economic and budgetary developments in all EU states.

The last date for the assessment is February 19 but it is expected on February 13.

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