Bulgaria's Finance Minister Predicts 2% GDP Growth in 2014
Finance Minister Petar Chobanov predicted an economic growth by up to 2% in 2014 as a result of the government's policies for stimulating growth and employment.
Speaking Wednesday during an investment forum in Sofia, he claimed that the Q2, 2013 results gave no reason for expecting an economic recovery, adding that the economic growth in 2013 was expected to amount to a mere 0.6% mostly due to weak investments.
Referring to the anti-government protests in Bulgaria, which have been going on for 103 days, he claimed that public discontent had also had a negative impact on the economic development of the country.
Chobanov emphasized, however, that the Finance Ministry's economic growth forecast for 2014 remained unchanged, at 2%.
Bulgaria's Finance Minister, as cited by investor.bg, informed that the government would seek to bring the budget deficit below 2% of GDP in 2014.
He said that Bulgaria had the opportunity to raise an additional sum of up to BGN 400 M by end-2013, adding that it was yet to be decided whether it would happen through a syndicated loan or Eurobonds.
Chobanov defined the political situation in the country as a challenge which helped the government stay focused, work transparently and present reforms and measures which would restart the economy.
He argued that the measures would result in an improvement of the business climate which would become noticeable very soon.
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