Bulgaria Loses Billions Annually Due to Delayed Schengen Membership, Warns Economy Minister
Bulgaria stands to lose approximately BGN 1 billion each year due to its continued exclusion from full membership in the Schengen area
The spread of the Omicron variant of the coronavirus could lead to a slowdown in the recovery of the world economy, said today the managing director of the International Monetary Fund (IMF) Kristalina Georgieva, quoted by Reuters.
Georgieva speaks at the online forum "Reuters Next"
In October, the International Monetary Fund announced that the Fund is committed to 5.9 percent growth in the global economy in 2021.
The new strain of coronavirus, which is likely to spread very quickly, could undermine confidence. Therefore, we will probably see some reductions in our October forecast for global economic growth, Georgieva said.
At the same time, she pointed out that the virtual meeting (in November) between US President Joe Biden and Chinese leader Xi Jinping was a positive signal for the recovery of the world economy.
Georgieva said US authorities must be the first to take action to fight inflation.
According to her, the picture of inflation in the world is different.
In the United States, measures need to be taken to combat the sharp rise in prices. In other countries, however, these measures are not mandatory, the IMF's managing director said.
Georgieva also said $ 6 trillion to $ 10 trillion could be needed to fight climate change this decade.
/BTA
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022