Sun, Nov 08 2009

FOREIGN INVESTMENT BEHIND BULGARIA'S ECONOMIC DEVELOPMENT- IMF

Thu, Jun 07 2007 15:55 CET 577 Views

Bulgaria's good economic condition is a result of the foreign investment inflow in the country, International Monetary Fund (IMF) first deputy managing director John Lipsky said.

Higher standards of living could be achieved only through economic growth over a long period of time, Lipsky said in a joint briefing with Finance Minister Plamen Oresharski.

IMF aided Bulgaria achieve its goal of EU membership, Lipsky said. The union accession is now imposing other requirements that have to be met. Bulgaria should continue its sound fiscal policies and maintain the macroeconomic stability, he said.

According to IMF predictions Bulgaria will experience a 16.6 per cent current account deficit, economic growth of six per cent and inflation remaining below 4.5 per cent in 2007.

Oresharski said that Bulgaria was going to prove it could maintain good financial policies after the end of its agreement with the IMF.

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgaria unemployment rate reaches 8.23% in October

Seven thousand people lost their jobs in October, labour minister says

EasyJet offers 30% promotional discount on all destinations

Once the promotional tickets are purchased during the discount window, they will be valid for the period January 4–March 30 2010

Long awaited repairs

Flannagan’s will be replaced by a French brasserie as part of a 10 million euro Radisson renovation

Mobile operator Globul reports 8.1% revenue drop in Q3

Globul has accumulated a profit of 139.1 million euro for the period January – September 2009, or a 0.3 per cent drop as opposed on last year’s results

Plotting the course

After 100 days in office, Finance Minister Simeon Dyankov pinpoints 10 key issues for Cabinet in ‘the next 100 days’

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.