Bulgaria: Recent Economic Developments and Statistical Appendix

International Monetary Fund

No 1999/026, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Bulgaria during 1990–97. Bulgaria’s macroeconomic performance during 1990–97 was weaker than in most transition countries in the region. With economic activity declining significantly during most years, the cumulative fall in real output over this period amounted to 37 percent. Although Bulgaria’s difficult initial conditions and adverse external shocks played a role, the weak performance mainly reflected the stop-and-go nature of stabilization policies and the slow pace of structural reform.

Keywords: ISCR; CR; economic activity; debt service; economic crisis; exchange rate; foreign currency; state enterprise; U.S. dollar; banking system; incomes policy; financial crisis; Privatization; Exports; Commercial banks; Eastern Europe; Western Europe (search for similar items in EconPapers)
Pages: 182
Date: 1999-04-21
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Citations: View citations in EconPapers (7)

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