Bulgaria: First Review Under the Stand-By Arrangement and Request for Waivers of Nonobservance of Performance Criteria

May 24, 2005

Preview Citation

Format: Chicago

Bulgaria: First Review Under the Stand-By Arrangement and Request for Waivers of Nonobservance of Performance Criteria, (USA: International Monetary Fund, 2005) accessed November 27, 2024

Summary

Bulgaria’s First Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria are discussed. With macroeconomic conditions expected to remain favorable, competitiveness at an adequate level, and a lower current account deficit, concerns about external vulnerability have lessened somewhat. Nonetheless, policies must remain prudent, and the program for 2005 envisages some fiscal easing, a slowdown in credit expansion, and reinvigorated structural reforms. The authorities have agreed to tighten the fiscal stance at the time of the second review if external current account developments are weaker than expected.

Subject: Balance of payments, Credit, Current account, Expenditure, External debt, Money, Public debt

Keywords: CR, Credit, Credit growth, Current account, End-February credit stock, Expenditure restructuring, Financing current account deficit, GDP relative, ISCR, Surplus, Trade datum

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/169
Stock No:

1BGREA2005001
ISBN:

9781451804515
ISSN:

1934-7685

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