Bulgarian Think-Tank Churns Neoliberal Mantra

Business | November 22, 2011, Tuesday // 16:29

No minimum wage and social security, no state subsidies, and decreased taxation are among the measures that the Bulgarian Institue for Market Economics suggests for boosting the country's growth.

Tuesday the institute presented a strategy including 77 measures of a vastly neoliberal bent, that are intended to aid the economy and bring up incomes in Bulgaria.

In the field of tax policy, the Institute recommends cancelling taxation on dividents and reinvested profites, as well as a decrease on the tax on some trade companies.

Apart from boosting the economy, this will stimulate the emergence of profits from the gray sector zone, according to analysts.

The Institute for Market Economics also recommends slackening regulation on labor in a bid to make the job market more flexible.

All in all, a large role of the state in the economy is a hindrance to businesses, argues the report.

At the same time, the Institute argues that the Bulgarian state needs to do more in the field of the judicial system and enforcing and protecting the rights of owners and producers.

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Tags: Institute for Market Economics, neoliberal, growth, job market, minimum wage, tax, taxation, grey economy, gray economy, state, judicial system, social security, subsidies
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