wiiw Current Analyses and Forecasts
Bulgaria: In the trap of macroeconomic mismanagement
in: Will Exports Prevail over Austerity?
wiiw Current Analyses and Forecasts No. 6, July 2010 , pp. 63-66
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The most damaging procyclical fiscal step has probably been the curbing of public investment.
The economy fell into a largely self-inflicted vicious circle of economic downswing and swelling fiscal imbalance.
The short-term outlook for the Bulgarian economy remains skewed towards the downside and GDP will stagnate at best in 2010.
Countries covered: Bulgaria, SEE