BULGARIAN ECONOMY: PROBLEMS UNDER GLOBAL ECONOMIC CRISIS IMPACT IN 2009 - 2010

ANTON MARINOV

 

Abstract

The purpose of this paper is to analyze the Bulgarian economic policy for the period 2009-2010 as well as the preparation of actions that would lead to its improvement to maintain a steady national economy in times of global economic crisis.
Bulgarian economy entered a recession period without any feasible midterm prospects of revival. Demand contraction lead to company bankruptcies on the one hand, which created high unemployment rate on the other, and it is going to cause even higher drop in demand.
The radically changed economic situation commands a new approach to the budget spending section, meaning that fiscal spending should be allocated to internal demand stimulation and aiding the economy’s structural adjustment.
Based on analysis and good practices around the world some alternatives are being offered to the current policy and new steps to improve the business environment for companies as well as the country’s financial affairs and resolving Bulgarian economic issues during the crisis.
The following methods have been used for the completion of this scientific paper: accumulation, processing and data analysis; system approach; observation; statistical methods reflecting distribution, structure, and dynamics of the processes and events subject to the present research effort; systematic and comparative analysis, etc.

 

Key words

Bulgarian economy, economic policy, economic actions, economic stability, global economic crisis.

 

References

Budget Law for the State Social Security, 01.01.2010

The Health Insurance Law, 01.01.2010

Social security code, 01.01.2010

National Employment Agency,
http://www.az.government.bg/.

Bulgarian National Bank,
http://www.bnb.bg/.

Bulgarian Industrial Association,
http://www.bia-bg.com/.

Deutsche Welle,
http://www.dw-world.de/.

Eurostat,
http://epp.eurostat.ec.europa.eu/.

International Monetary Fund,
http://www.imf.org/external/country/bgr.

Ministry of Economics, Energy and Tourism,
http://www.mi.government.bg/.

Ministry of Finance,
http://www.minfin.bg/.

National Statistical Institute,
http://www.nsi.bg/.

Reuters,
http://reuters.com/.

World Bank,
http://www.worldbank.bg/

 

Full Text: PDF (Bulgarian)