The Institute for Market Economics, IME, presented its traditional alternative budget for 2022, the first time it is doing so without the existence of a new budget framework. The cabinet has projected inflation of 5%, GDP growth of 4.9% and a budget deficit of 4.1% in the draft budget.
“This is a galloping budget in terms of revenues,” Petar Ganev, IME senior research fellow commented for the BNR. To attain European growth rates, IME experts propose that the social security burden be reduced for workers by 10%. People will retain their earnings and this will push up consumption, as well as the collection rate of social security contributions. To boost investments, the IME experts are proposing a profit tax reduction and an acceleration of allowances for depreciation.
The demographic crisis in this country is advancing at a rapid rate, holding back the development of businesses, but this is a tendency observed in other countries as well. Because of their good qualifications, Bulgarian workers find work in many..
The World Bank predicts a more moderate improvement in Bulgaria's economic growth in 2024 and 2025. In its latest report "Global Economic Prospects" the institution expects a slight acceleration in Bulgaria's GDP growth from 1.8% in 2023 to 2.1% in..
Bulgaria is interested in participating as a co-shareholder in the initiative to create a "green" corridor for the transmission of "green" energy produced in Azerbaijan to Europe, caretaker Premier Dimitar Glavchev said at a meeting in Berlin with the..
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