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The World Bank Group has appointed Kristalina Georgieva as vice president and corporate secretary March 10, 2008. Photo by World Bank
The global financial crisis is an opportunity for Bulgaria to develop new projects, particularly in infrastructure.
The advice was given by World Bank Vice-President, Kristalina Georgieva.
According to World Bank experts there is a great possibility Bulgaria's economy to decrease 3,5% until the end of 2009. That may not have such a affect the country so severely, if the government manages to keep the unemployment rate down.
The World Band foresees budget deficit of 5-6% in the whole region. Bulgaria, though, may succeed to lower that percentage.
The flow of funds towards the region is expected to grow as the economies of the USA and the other developed countries have already started recovering.
Currently, the global funds shortage is estimated between USD 200-700 B, and the South-East European region is seriously affected.
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