Bulgaria Gets Positive Assessments From IMF, World Bank

Business » FINANCE | October 8, 2016, Saturday // 13:40
Bulgaria: Bulgaria Gets Positive Assessments From IMF, World Bank BGNES

Bulgaria has received positive assessments of its fiscal policy and accelerated economic growth in the last year and a half from the IMF and the World Bank, announced Finance Minister Vladislav Goranov after his meetings within the framework of the annual meeting of the two institutions taking place in Washington.

“I am very impressed by the progress of your country, compared to its situation two years ago. Bulgaria is one of the countries with the best macroeconomic indicators in Eastern Europe. Increasing economic growth, reduced inflation and the improvement of the budget position are impressive,” said during his meeting with Goranov the Vice President of the World Bank Cyril Muller.

According to him, the experts of the bank are satisfied with the successful assessment of commercial banks’ assets in Bulgaria and the subsequent stress tests.

“Recently, there have been very good news from Bulgaria. Increased tax collectability and the reduced deficit encourage us in our expectations for a balanced budget within two years,” said Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund.

Vladislav Goranov also met with the Director of IMF's European Department Poul Thomsen. They discussed the priorities of the Bulgarian government concerning the expenditures part of the budget.

“Educations is our main priority. As early as next year, we will allocate an additional BGN 223 M for education. This is the main accent in our fight against the demographic crisis, the lack of qualified cadres for the economy and the risks of a slow-down in growth in the future,” underlined Goranov.

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Tags: Goranov, Muller, IMF, World Bank, deficit, budget, education, collectability, thomsen, furusawa, stress tests, Bulgaria
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