Bulgaria’s Finance Minister: There’s A Tendency for Economic Growth
Thursday, 03 November 2016
Our forecast is for three percent economic growth in 2017. This is a really small increase but, in fact, this is the first time that our analysts have made such a forecast since 2009," Bulgaria's Finance Minister Vladislav Goranov told Nova TV.
"There is a tendency for economic growth in Bulgaria and this is a positive sign. Domestic consumption depends on the environment – when it is calm and healthy, the citizens tend to spend more and vice versa," he added.
"Domestic consumption in Bulgaria has been slowly growing since 2015. Yet, the business climate is not very good, owing mostly to the inefficient corporate legislation.
"The National Revenue Agency and the Finance Ministry are doing their best to make Bulgaria an attractive business destination. Meanwhile, the State Agency for National Security (DANS) is probing into some of the emblematic privatization deals of the past twenty years, including the latest purchase of the Diplomatic Club in Sofia's district of Boyana by three young businessmen." He went on to say.
Minsiter Goranov said that in 2016 the minimum monthly salary in the country will be set at 460 levs (235.33 euros) and the Bulgarian Academy of Science will have their state allowance reviewed.
In his words, Bulgaria's scientists and researchers should rely more on privately-funded projects for financing and not so much to state-subsidies.