We Have Real Grounds to Believe 4.5% Economic Growth Possible: Bulgaria’s CEDB Lawmaker

We Have Real Grounds to Believe 4.5% Economic Growth Possible: Bulgaria’s CEDB Lawmaker

“It is possible to reach an economic growth of 4.5%. I do not know if this will take place but we have real grounds to believe it,” said Menda Stoyanova, MP with mandate-holder Citizens for European Development of Bulgaria (CEDB) and Chairperson of the parliamentary Budget and Finance Committee, speaking for the Bulgarian National Television (BNT) on Sunday.
“If we look at the 2015 report, [we will see] there are grounds for optimism over such developments. We have a GDP growth of 3%, which against the background of previous years, when it was about 1%, is a good result for such a difficult coalitional way of governing,” Ms Stoyanova noted.
She commented namely the fact this growth had brought a higher growth of revenues meant several things – there was hard work done against smuggling activities and the informal sector had shrunk.
“A hard blow has been dealt to the informal economy in certain sectors, especially excise taxes,” the lawmaker stated.
In her words, people should by no means rely solely on European funds, which provide a sound basis for the economy to make a step forward.
According to Menda Stoyanova, there is “a lot of money” in banks in Bulgaria due to citizens’ deposits and matters related to granting loans.
“However, business is afraid; it is a very timid thing and relies on stability of the government,” the parliamentary official remarked.

FOCUS News Agency

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