Bulgarian officials said the economy is expected to grow 3.5% next year
SOFIA, Sept. 4 (Xinhua Wang Meng) Bulgarian minister of economy, energy and tourism, said Trajkov 4, 2011, Bulgaria is expected to achieve 3.5% economic growth, but also accompanied by faster economic growth, budget deficit will no longer be a big problem.
formulated according to the Bulgarian Ministry of Finance, 2011, the draft budget for next year Paul will achieve 3.5% economic growth, fiscal deficit will be reduced to gross domestic product (GDP) of 2.8%, lower than the EU set the 3% limit set. The World Bank has predicted that next year will ensure economic growth of 2%.
However, Trajkov also pointed out that to achieve 3.5% economic growth, government departments must work hard to ensure the completion of each task.
Trajkov said Energy and Tourism economic hope the Government can provide more export credit funds, and further encourage investment. The Department also prepared from the Far East, especially China to attract investment because China has abundant capital, and the Government is encouraging enterprises to invest abroad.
by the global financial and economic crisis, Bulgaria's economy is currently experiencing its first recession in 12 years. After 2009, GDP fell by 5% in the first quarter, still down 3.6%.
this year in March, the Bulgarian Government has developed 59 measures, including crisis response package to raise taxes, cut government budget expenditures to reduce the sharp increase in the deficit, the economic recovery as soon as possible.
Bulgarian government in July this year, Parliament passed the 2010 revised budget bill is expected early this year as exports began to recover from the rapid growth momentum, preserving the economy will bottom out in the second half started to recovery Road, the year the economy will grow 1%.
