...Almost 100 students from various universities attended the first meeting and took active part in a discussion about the financial crisis, skillfully moderated by our guest-lecturers - Kalin Hristov and Georgi Angelov.
"Economic Policy Review" Bulletin ISSN 1313 - 0544
One of my main claims in the article published a week ago “The Growth of GDP and the problems during 2008” was that the foreign trade deficit was not Bulgaria’s most serious problem in the last year and that actually the deficit was created by something good – the record breaking for the country inflow of foreign investments. My other position, respectively, was that during the crisis, when the foreign investors are pulling out of Bulgaria and our foreign trade is shrinking, that would lead to reduction of the trade deficit.
The review of last week’s papers could lead to a strong negative sensation of helplessness compared to the efforts of the state to define more and more how, what, how much, who and where to do business. Putting a ban is more and more the approach to regulate, which a free thinking person, who believes in the entrepreneur and the initiative could not accept happily.
...According to me the protests are an important and necessary element of democracy. It signals that something is wrong and something must be corrected. After the society gets the message it is normal that the spirits calm down.
The National Statistics Institute (NSI) published the data about the GDP for the last year. During 2008 GDP of the country reached 66 728 million levs, which means that in real terms, compared to 2007, the increase is by 6 per cent. The data shows that the GDP per capita is 8 712 levs.
The institutional framework of the economy, which is determined by the type and design of the laws, the acting rules and regulations in a country and the way they are applied in practice, is a prerequisite for the existence of a favorable business environment, which is directed toward the development of the entrepreneurship and innovation...
Everywhere around the world the social policy and its role in the economy are perceived like a cure for all problems (unemployment, income, poverty etc.) Under the conditions of a crisis, people insist even more for an adequate social policy, while the governments feel obliged to do something in order to respond to the crisis itself and the expectations of its people. Often, however, by doing something, the state not only does not help to overcome the difficulties, but intensifies and distorts them...
...It may come out that the Bulgarians are very patient, since they could swallow that the first subways around the World had been build during the 70’s of the nineteen century, while in our country the citizens of 2-million people Sofia continue to hear, that sometime in the future they would be able to take a ride on the subway around the city.