Bulgaria: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria
March 16, 2009
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This 2008 Article IV Consultation discusses that Bulgaria has been hit by the global financial crisis, with clear signs that the country’s capital inflows-driven boom has come to an end and that the real economy is slowing down. Executive Directors have commended the Bulgarian authorities for their prudent policies that have built strong balance sheets in the public sector. Directors have also welcomed the authorities’ commitment to maintaining prudent fiscal policies, which will provide crucial support for the currency board arrangement.
Subject: Balance of payments, Banking, Capital inflows, Currencies, Current account, Current account deficits, External debt, Fiscal stance, Money
Keywords: Capital inflows, CR, Currencies, Current account, Current account deficits, Eastern Europe, estimate, Europe, flash estimate, GDP projection, Global, ISCR, net capital capital inflow, private sector credit growth, reserve account, slowdown, Southern Europe, stock market index, Western Europe
Pages:
70
Volume:
2009
DOI:
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Issue:
096
Series:
Country Report No. 2009/096
Stock No:
1BGREA2009001
ISBN:
9781451804591
ISSN:
1934-7685
