Georgi Angelov: Economic Growth in 2016 Will Depend on the Reforms in Bulgaria

Georgi Angelov: Economic Growth in 2016 Will Depend on the Reforms in Bulgaria

Bulgaria’s economy grew unexpectedly by 3% in 2015. This was due to the fact that the EU economy has been recovering steadily. According to most economic forecasts, the EU development rate in 2016 would be similar to the one registered last year and in this sense we can’t expect that the growth of the Bulgarian economy would accelerate automatically, because the external factors do not favor a higher increase, Bulgarian economist Georgi Angelov from the Open Society Institute told Radio Bulgaria. The only way for Bulgaria to reach the high target set by the cabinet is to speed up the reforms, improve the business environment and the investment climate, Georgi Angelov further said. Bulgaria’s authorities pinned their hopes on local consumption to become the main engine of growth in 2016.

BNR

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