Bulgaria: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria

June 2, 2010

Preview Citation

Format: Chicago

Bulgaria: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

The large capital inflows that generated a domestic demand boom in Bulgaria led to strong employment growth. But a sharp reduction in capital inflows led to a contraction of domestic demand, while the recession in Bulgaria’s trading partners caused a drop in exports. Public policies will also need to attune to the domestic demand-driven revenue boom and adjust spending growth to the new environment. Capital inflows are likely to remain low, and domestic demand is expected to decline further, requiring substantial adjustments by both the private and public sectors.

Subject: Capital inflows, Expenditure, External debt, Fiscal policy, Labor, Public debt, Wages

Keywords: Authorities' plan, Bulgarian authorities, CR, Currency board arrangement, Deficit, Eastern Europe, Europe, GDP, Global, Government, ISCR, Payment, Payment commitment, Private sector vulnerability, Revenue boom, Southern Europe, Wages

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/160
Stock No:

1BGREA2010002
ISBN:

9781455207473
ISSN:

1934-7685

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