2011 is the year of Bulgarian vice-PM and Minister of Finance Simeon Djankov, quipped Bulgarian Prime Minister Boyko Borisov Tuesday.Speaking at the 6th yearly meeting of the Bulgarian cabinet and businesses, Borisov lauded the austerity reforms taken up by his Finance Minister as safeguarding Bulgaria"s fiscal stability.Monday credit rating agency Moody"s had announced a report commended Bulgaria...
International credit rating agency Fitch lowered the outlook for Bulgaria"s credit rating from positive to stable, it was announced Tuesday.Bulgaria"s credit ratings, according to Fitch, however stay the same - at BBB- for foreign currency and BBB for domestic currency.The revision is a part of a Fitch campaign to revise its ratings for the region of Central and Eastern Europe where it expects eco...
Bulgaria"s Deputy Prime Minister and Finance Minister, Simeon Djankov, has assured the business sector that low taxes are to stay in Bulgaria.Djankov stressed Tuesday that Bulgaria is one of the only three EU Member States with consistent tax, fiscal and microeconomic policies, the other two being Estonia and Luxembourg. Bulgaria also has the lowest tax rates in the EU.The Minister spoke during th...
The International Monetary Fund has cut Bulgaria"s growth forecasts for this and next year, saying the crisis in Europe has weakened its economic recovery."In spite of good policies, the recovery in Bulgaria has been hurt by the economic slowdown and ongoing uncertainty in Europe," the fund said in a statement after the end of its regular visit to Sofia. "The way forward is to maintain prudent fis...
Bulgaria"s economic growth data for the third quarter of 2011 has been revised slightly in a positive direction after preliminary estimates indicated that the Bulgarian economy stagnated on quarterly basis.According to the institute"s seasonally adjusted data, the GDP growth rate in the third quarter of 2011 was 0.3% compared with the second quarter of 2011 and 1.6% compared with the same quarte...
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