Despite the recovery over the past two years, the Bulgarian economy has not yet reached its levels prior the crisis, measured as real GDP at constant prices. If we use the above-mentioned definition of depression, the Bulgarian economy remains in a depression for 12 quarters or 36 months. Slowing growth in recent quarters and the dangers of entering in to a new recession are already visible... Reaching pre-crisis levels at the time remains wishful thinking.
"Economic Policy Review" Bulletin ISSN 1313 - 0544
The five partners of the GIFTED Project met in Lisbon on June 12 and 13, 2012 to finalize the research activities of Work Package 1 focused on investigating funding mechanisms for Adult Learning (AL) currently in place in selected pilot Member States and identifying good practices in publicly funded AL.
Overall, the data for the first months in 2012 show that Bulgaria will not be passed by the recession, which started at the end of 2011 in the EU. It seems increasingly likely, that we are also going to be affected by the economic contraction in the first quarter of 2012, which may continue in the coming quarters.
At first glance, the ugly caterpillar "Belene" has transformed into two beautiful butterflies – a steam-gas plant at the site and a new unit at NPP "Kozloduy". But these two butterflies are only painted on the ceiling of the imagination of the government. Much like the two previous governments, the current one seems to believe it has found something like an eternal engine: you start big projects, mobilize contracts, companies and funds, then shut them down because they are costly to the economy, and then start new similar projects all over again.
On April 16th 2012 the Institute for Market Economics (IME) released a report, analyzing the current regulatory framework and policies for the integration of people with disabilities. The report also proposes positive reform measures that, we believe, will better serve the purpose of full-fledged inclusion of such individuals.
Photos from various events of IME Students Club (500+ students) and IME & BMA Economic Library
Prior to the crisis, the country had sound public finances (budget surpluses) and over BGN 10 billion in reserves. Over the next three years the country accumulated more than BGN 5 billion in deficits and of course the fiscal reserves plunged to less than BGN 5 billion. Here is the simple story of the crisis – we addressed the problems by spending BGN 5 billion from our fiscal reserves...
On April 24th IME held a press conference under the title “Jobs During Crisis: A Flexible Approach To Labor Market Regulations”
IPRI 2012 Reaffirms Direct Relationship Between Property Rights and Economic Development... No Sensible Improvement in Bulgaria
The 2012 International Property Rights Index (IPRI) reveals the important relationship between property rights, economic freedom and a country’s level of development.