Bulgarian consumer price inflation slowed to 4,8% year-on-year in April, mainly due to a drop in food prices and services, statistics office data showed on Wednesday.
The International Monetary Fund has corrected an embarrassing error that led to the publication of exaggerated estimates of the external debt levels of crisis-hit eastern European states, the Financial Times reported.
Steve Hanke, the architect of Bulgaria's currency board, has stated that corruption is still the country's biggest problem.
The Bulgarian National Bank (BNB) has determined Friday the main interest rate to be 2,27% in May 2009.
Fitch Ratings has today affirmed Bulgaria's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' (BBB minus), and Long-term local currency IDR at 'BBB', and revised their respective rating Outlooks to Negative from Stable.
Bulgaria's finance minister has denied reports that the country was the next in line after Hungary, Latvia, Serbia, Romania and Poland to seek an International Monetary Fund-led bailout.
Florian Fichtl, the World Bank representative for Bulgaria, has stated that the country should avoid finishing the year with a budget deficit.
Bulgaria might reduce its budget surplus, the Bulgarian Prime Minister Sergey Stanishev said Wednesday.
Bulgaria was the next in line after Hungary, Latvia, Serbia, Romania and Poland to seek an International Monetary Fund-led bailout, but was refused aid, an opposition leader claims.
Bulgaria and IMF officials have agreed that joining the Exchange Rate Mechanism, the "waiting room" for euro membership, and adopting the common European currency can not be on the agenda at times of global economic crisis.
Despite the effects of the global financial crisis, Bulgaria is going to have a 1% budget surplus in 2009.
The Bulgarian government should sharply cut spending to avoid slipping into a 1% budget deficit at the end of this year.
The Bulgarian society is cut in two over the recent calls for immediate introduction of the European single currency, a new survey on EU's actions in the face of the economic and financial crisis shows.
People's trust in authorities is crucial for exiting the current financial crisis, and uncertainty in politics will postpone restoration.
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