Send to Kindle
Photo by jhu.edu
Steve Hanke, the architect of Bulgaria's currency board, has stated that corruption is still the country's biggest problem.
Hanke stated that "Corruption is Bulgaria's biggest problem, it is the area where my advice has not been heeded," in an interview for Bulgarian National Radio.
"My recommendations on flat tax, fiscal control and economic deregulation have all been implemented. Corruption and organised crime, however, remain the Achilles' heel of Bulgaria's economy," Hanke concluded.
Hanke said recently that the Bulgarian National Bank's forecast for Bulgaria's economy would end up being more accurate than that of the IMF.
Hanke drafted the currency board agreement Bulgaria adopted in 1997, after a banking crisis wiped out billions in savings and shattered the country's financial services sector.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
A high-profile scandal rocks Ukraine's political landscape as Mykola Solskyi, Minister of Agrarian Policy and Food and former Chairman of the Parliamentary Committee on Agriculture, faces allegations of involvement in an organized criminal group orchestra
Corruption in Bulgaria has soared to its third highest peak in history, according to a recent report by the Center for the Study of Democracy
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
Bulgaria is grappling with a sharp increase in counterfeit currency, with the Bulgarian National Bank (BNB) reporting a concerning surge in fake banknotes, particularly those of 100 BGN denominations
Bulgaria's outgoing Prime Minister, Academician Nikolai Denkov, has condemned corruption as the primary conduit for Russian interference in the country's affairs
In a strategic move aimed at reinforcing Bulgaria's commitment to its European aspirations and tackling corruption, outgoing Prime Minister Nikolai Denkov held a crucial meeting with EU, Ukrainian, US, and British ambassadors
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
