Minister of Economy: Bulgaria Boasts Excellent Macroeconomic Indicators despite Pandemic

Bulgaria is among the few countries in which there is growth in consumption and rising incomes during the coronavirus crisis. This was stated by Minister of Economy Lachezar Borisov during the virtual Economist event entitled EU Recovery and Resilience Fund for Bulgaria's Transition: Innovation - Green Agenda - Digital Transformation. Bulgaria's public debt is among the lowest, the budget deficit for 2020 is 3%, and the unemployment rate in the country is 5% according to data by the National Statistical Institute and 7% according to data by the Employment Agency, he added.

Bulgaria's macroeconomic indicators are excellent, said Minister Borisov. Its credit rating was raised during the crisis, the country joined ERM II, and it implemented the most liberal measures with regard to the pandemic, combined with socio-economic measures, the economy minister added. In his words, balance between economy and health sector, synergy and lack of confrontation are key to tackling the current challenges. "This is the key - to work together," the minister concluded.

"We are being criticised for not giving more money to businesses during the crisis, but in fact we have the most liberal measures towards businesses in the context of the Covid-19 pandemic. Only a few sectors were temporarily unable to operate," Borisov stated. "Billions are available to transform Bulgaria and we must achieve a higher level of economic development. This will happen when we set higher goals," he added, outlining as priorities innovation and growth, the circular economy, digitalisation, etc.

In his words, 95% of the companies which have already invested in the Bulgarian market have stated that they will invest again.

Bulgaria is the largest beneficiary of EU funds for the...

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