ANALYSIS OF THE FIRST THREE YEARS OF THE CURRENCY BOARD IN BULGARIA AND THE NEGATIVE RESULTS FOR OUR COUNTRY’S ECONOMY

Bancho Banov ()
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Bancho Banov: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2020, vol. 19, issue 1, 249-257

Abstract: This article explores the economic indicators of Bulgaria in the first three years of the establishment of the Currency Board. Indicators are analyzed, such as the sectoral employment structure, GDP by economic sectors, GDP growth and drop in percent, import and export dynamics, and unemployment rate. Why are the first three years analyzed? Because it could easily be seen the bad start of the board which was unprofitable for Bulgaria. And after that easily to be removed. As a Bulgarian proverb says, 'The day is visible in the morning'. There is another reason. If a negative economic measure in the form of a law (such as the Currency Board) remains in force for a long time, this measure is 'rooted' in the country's economy, and the economic entities fit and get used to it and take it for granted. And with each subsequent year, it is more difficult to find political will and public support to get rid of it.

Keywords: Currency board; losses from the Currency board for Bulgaria (search for similar items in EconPapers)
Date: 2020
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