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Bulgarian government adopts mid-term economic forecasts for 2009-2011

23/05/2008

SOFIA, Bulgaria -- The government adopted its revised mid-term economic forecasts for 2009-2011 on Thursday (May 22nd). The two main goals are sustainable coverage of the EU's Economic and Monetary Union entrance criteria, and high economic growth based on productivity gains. The GDP is expected to grow by 6.5% in 2009, while inflation should slow to an annual average of 5.1%, down to 4.2% at the end of the year. The government has committed to prudent fiscal policy, envisioning once again a budget surplus of 3% of GDP, as well as a 40% ceiling on public expenses. The government also aims to boost social benefits: pensions will increase by an average of 19.7%, and the minimum wage by 9.1%. (Dnevnik, BTA - 22/05/08)

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