Bulgaria: Recent Economic Developments and Statistical Appendix
IMF Staff Country Reports, April 21, 1999
Source details
- Canonical URL
- Bulgaria: Recent Economic Developments and Statistical Appendix
Other formats
Bibliographic details
- Published: April 21, 1999
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451804331.002
Overview and main finding
- Reviews economic developments in Bulgaria during 1990–97.
- Bulgaria’s macroeconomic performance during 1990–97 was weaker than in most transition countries in the region.
- With economic activity declining significantly during most years, the cumulative fall in real output over this period amounted to 37 percent.
- Weak performance mainly reflected the stop-and-go nature of stabilization policies and the slow pace of structural reform, although difficult initial conditions and adverse external shocks also played a role.
Subject areas and keywords
- Subject: Banking, Commercial banks, Economic sectors, Exports, Financial institutions, Foreign exchange, International trade, Privatization, Public debt
- Keywords: banking system, Commercial banks, CR, debt service, Eastern Europe, economic activity, economic crisis, exchange rate, Exports, financial crisis, foreign currency, incomes policy, ISCR, Privatization, state enterprise, U.S. dollar, Western Europe
Analytical emphasis (from the paper)
- Causes of weak macroeconomic performance:
- Stop-and-go stabilization policies.
- Slow pace of structural reform.
- Difficult initial conditions.
- Adverse external shocks.
- Outcome highlighted:
- Significant and sustained decline in economic activity across most years in 1990–97.
International Monetary Fund. "Bulgaria: Recent Economic Developments and Statistical Appendix", IMF Staff Country Reports 1999, 026 (1999).
Content in this bundle
- Bulgaria: Recent Economic Developments and Statistical Appendix - ISCR/99/26