EC with Positive Assessment for Bulgaria

World » EU | February 26, 2020, Wednesday // 15:14
Bulgaria: EC with Positive Assessment for Bulgaria

The European Commission (EC) has today published country reports analysing each Member State's key socio-economic challenges.

Bulgaria's report gives a positive assessment of structural reforms and the prevention of macroeconomic imbalances in our country.

"Another positive news for the Bulgarian economy and the state of the Bulgarian fiscal," the GERB ruling boasted in parliament.

The announcement explicitly states that significant progress has been made in strengthening and managing the financial sector and that many unresolved regulatory issues have been resolved, ”MP Alexander Ivanov explained. He pointed out the low level of debt in the corporate sector, which, in his opinion, means only that the Bulgarian business does not have difficulty in paying off its loans.

The good news were also confirmed by Bulgarian Commissioner Mariya Gabriel, who spoke with her colleagues in Brussels.

"Bulgaria’s growth prospects remain favourable but there is scope to further strengthen the overall resilience and competitiveness of its open economy(...)

Economic expansion has proved robust in the face of the deterioration of developments abroad, although more moderate growth lies ahead(...)

Potential GDP growth has strengthened in recent years, but not enough as yet to ensure a rapid catching-up process." the report for Bulgaria said.

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Tags: EU, European Commission, Bulgaria, report, positive

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