Experts Assert: Euro Introduction in Bulgaria Won't Lead to Price Hikes
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
Leading Bulgarian financiers have criticized the Borisov Cabinet for its response to the economic crisis while also recognizing that the government has in a way reacted to it “adequately.”
“The government has been acting adequately in a time of crisis inasmuch as it hasn't done almost anything,” economist Emil Harsev said speaking on BNT Wednesday.
He elaborated that, in his view, taking international bailout loans or other similar steps will be deadly for Bulgaria's finances.
Harsev also believes that what he described as vast spending on part of the government warrants the greatest criticism of all of its policies.
Georgi Ganev, a program director of the Sofia-based Center for Liberal Strategies, believes that in the first half of 2010, the Borisov Cabinet emptied the state budget but managed to patch up the state finances in the second half of the year.
Ganev thinks that Bulgaria is still on the bottom of the economic crisis as most firms have not decided yet that “the worst has passed”.
Harsev said in turn that the Bulgarian economy probably started recovering in the third and fourth quarter of 2009 but warned that the recovery will be a long and protracted process.
The two financiers believe that the tourism sector will probably be the first one to really bounce back, while the construction sector will never return to the level of the 2007 boom. They think that banking deposits will be the best investment in Bulgaria in 2011 since the high deposit interest rates are coupled with low risk.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
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
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%
As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022