Publication:
Mapping Bulgaria's Future : Inclusive Growth and Productive Jobs

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-08-19T21:15:20Z
dc.date.available2014-08-19T21:15:20Z
dc.date.issued2009-12
dc.description.abstractThe newly elected government takes office at a time of stark economic challenges. The outfall of the global economic crisis threatens to undo many of the achievements of the recent past, derail convergence with the European Union (EU), and heighten social vulnerability. The election of a strong government offers a timely opportunity to restore and broaden the economic reform agenda which had been initiated before EU accession and but lost some momentum since 2007. Decisive action could shorten the length and reduce the depth of the crisis by restoring market confidence and improving economic prospects. Restoring the health of the economy and returning to the convergence path requires concerted policy actions to unwind economic imbalances and advance much needed structural reforms. The two-way policy response would aim to: 1) bring about fiscal consolidation and restructure public finances, strengthen financial stability, and mitigate the social impact of the crisis in the short-run; 2) and step up structural reform to address deep seated economic problems which both magnify the impact of the international crisis and hamper longer-term convergence prospects in the medium-run. The World Bank stands ready to support the structural transformation of Bulgaria. The Government is strongly committed to maintaining the currency board with the euro adoption as an exit strategy. Yet, a continued worsening in private and public sector balance sheets could trigger a loss of confidence in the currency board. As international investors take a closer look at the vulnerabilities of emerging economies, there is a large premium on strong domestic policies. While financial markets may have under-priced the risks relative to the fundamentals in Bulgaria and other countries in the region prior to the crisis, this under-pricing has now disappeared. The pendulum is now likely to swing into the opposite direction.en
dc.identifierhttp://documents.worldbank.org/curated/en/2009/12/13155432/bulgaria-mapping-bulgarias-future-inclusive-growth-productive-jobs-policy-notes
dc.identifier.doi10.1596/19475
dc.identifier.urihttps://hdl.handle.net/10986/19475
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTS RECEIVABLE
dc.subjectASSET MANAGEMENT
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANK REGULATIONS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCIES
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY PROCEDURES
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBOND
dc.subjectBOND MARKET
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUDGET SURPLUS
dc.subjectBUDGET SURPLUSES
dc.subjectBUDGETING
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL SHORTAGES
dc.subjectCAPITALIZATION
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER CREDITS
dc.subjectCONSUMER PROTECTION
dc.subjectCONSUMER PROTECTION LEGISLATION
dc.subjectCORPORATE DEBT
dc.subjectCORPORATE LAW
dc.subjectCREDIT CONSTRAINTS
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT GROWTH
dc.subjectCREDIT LINES
dc.subjectCREDIT QUALITY
dc.subjectCREDIT REPORTING
dc.subjectCREDIT RISKS
dc.subjectCREDITOR
dc.subjectCREDITOR RIGHTS
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENCY BOARD
dc.subjectCURRENCY MISMATCHES
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT RESTRUCTURING
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITOR
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDOMESTIC BANKING
dc.subjectDURABLES
dc.subjectECONOMIC POLICIES
dc.subjectEMERGING ECONOMIES
dc.subjectENTERPRISE CREDIT
dc.subjectENTERPRISE PERFORMANCE
dc.subjectEQUITY INVESTMENTS
dc.subjectEQUITY MARKET
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SUSTAINABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL CONSTRAINTS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED INVESTMENT
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY EXPOSURE
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVE
dc.subjectFOREIGN INDEBTEDNESS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFRAUD
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT FINANCING
dc.subjectGOVERNMENT POLICIES
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CARE
dc.subjectHEALTH SECTOR
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHOME MARKETS
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD INCOMES
dc.subjectHUMAN CAPITAL
dc.subjectINCOME LEVEL
dc.subjectINFLATION
dc.subjectINFORMATION SYSTEM
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL INVESTORS
dc.subjectINVESTING
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT FINANCING
dc.subjectINVESTMENT PORTFOLIO
dc.subjectINVESTMENT PORTFOLIOS
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTMENT REGULATIONS
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLAND OWNERSHIP
dc.subjectLEGAL FRAMEWORK
dc.subjectLIQUIDITY
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL GOVERNMENTS
dc.subjectLOSS OF CONFIDENCE
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC POLICY
dc.subjectMARKET BORROWING
dc.subjectMARKET CONFIDENCE
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET INFORMATION
dc.subjectMARKET INTEGRATION
dc.subjectMARKET REFORMS
dc.subjectMARKET RISK
dc.subjectMASTER PLAN
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMEDIUM TERM EXPENDITURE
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORK
dc.subjectMINISTRY OF FINANCE
dc.subjectMORTGAGES
dc.subjectMOVABLE PROPERTY
dc.subjectNATIONAL BANK
dc.subjectNON-PERFORMING LOANS
dc.subjectNONPERFORMING LOANS
dc.subjectOUTSTANDING STOCK
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPENSION REFORM
dc.subjectPENSION SYSTEM
dc.subjectPENSIONS
dc.subjectPOLICY CREDIBILITY
dc.subjectPOLICY RESPONSE
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO QUALITY
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE DEBT
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SECTOR
dc.subjectPROFIT MARGINS
dc.subjectPROPERTY RIGHTS
dc.subjectPRUDENTIAL REGULATION
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC FINANCIAL MANAGEMENT
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SPENDING
dc.subjectRATE OF RETURN
dc.subjectRECURRENT EXPENDITURE
dc.subjectREFORM AGENDA
dc.subjectREFORM STRATEGIES
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY OVERSIGHT
dc.subjectREMITTANCES
dc.subjectRESERVE REQUIREMENTS
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK MANAGEMENT
dc.subjectSAFETY NET
dc.subjectSECURITIES
dc.subjectSHAREHOLDERS
dc.subjectSHORT-TERM BORROWING
dc.subjectSHORT-TERM EXTERNAL DEBT
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOLVENCY
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET PRICES
dc.subjectSTOCKS
dc.subjectSTRUCTURAL REFORM
dc.subjectSTRUCTURAL REFORMS
dc.subjectSTUDENT LOANS
dc.subjectSWAP
dc.subjectTAX
dc.subjectTELECOMMUNICATIONS
dc.subjectTOTAL DEBT
dc.subjectTRADE UNIONS
dc.subjectTRANCHES
dc.subjectTRANSPARENCY
dc.subjectWITHDRAWAL
dc.subjectWORKING CAPITAL
dc.titleMapping Bulgaria's Future : Inclusive Growth and Productive Jobsen
dspace.entity.typePublication
okr.date.disclosure2010-11-22
okr.date.doiregistration2025-05-07T12:09:31.251693Z
okr.doctypeEconomic & Sector Work::Policy Note
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2009/12/13155432/bulgaria-mapping-bulgarias-future-inclusive-growth-productive-jobs-policy-notes
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid341601468019777989
okr.guid792471468019777148
okr.identifier.externaldocumentum000334955_20101124021829
okr.identifier.internaldocumentum13155432
okr.identifier.report55597
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/11/24/000334955_20101124021829/Rendered/PDF/555970ESW0Gray12B01PUBLIC0111221101.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryBulgaria
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.sectorEducation
okr.sectorHealth and other social services :: Health
okr.sectorTransportation
okr.sectorWater, sanitation and flood protection
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPublic Sector Expenditure Policy
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicEnvironmental Economics and Policies
okr.topicPublic Sector Development
okr.topicEnvironment
okr.unitPoverty Reduction/Econ Mngmt (ECSPE)
okr.volume1 of 1
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