Bulgaria: Fiscal Plans “Too Ambitious”

Politics ♦ Published: November 16, 2013; 08:53 ♦ (Vindobona)

According to the IMF, the underlying assumptions of Bulgaria´s government are not realistic. The banking industry is stable, though.

Bulgaria: Fiscal Plans “Too Ambitious” / Picture: © Vindobona.org

The 2014 budget is rather risky, the IMF commented. If the basic assumptions prove untrue, Bulgaria´s government will have no other choice to cut spending, the IMF told Bloomberg.

According to the Bulgarian government, GDP growth will come at 0.6% in 2013 and at 1.8% next year. IMF forecasts a growth rate of 0.5% for 2013 and 1.6% for 2014.

The main risk factor is the…