Bulgaria: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bulgaria
IMF Staff Country Reports, February 1, 2021
Source details
- Canonical URL
- Bulgaria: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bulgaria
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Bibliographic details
- Published: February 1, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513568119.002
Economic impact of COVID-19 and near-term developments
- The economy contracted sharply amid two waves of COVID-19 infections.
- The government provided sizable policy support.
- The outlook is very uncertain and the main challenge facing policymakers is to keep adjusting to changing circumstances.
Policy support and priorities
- Authorities' policy response included sizable government policy measures (described as "sizable policy support").
- Policy priority: keep adjusting to changing circumstances amid high uncertainty.
Medium-term issues and recommended focus
- Over the medium term, structural reforms are needed that support inclusive income convergence toward advanced EU partners.
- Policymakers must pursue reforms mindful of demographic headwinds.
Key subjects and keywords
- Subject: COVID-19, Expenditure, Income, Income inequality, Loans
- Keywords: authorities' policy response, Bulgarian authorities, CR, ERM II membership, government's policy, ISCR, policy priority
Content in this bundle
- 1bgrea2021001