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Bulgaria: S&P Downgrade Criticized Sharply

Politics ♦ Published: December 16, 2013; 05:31 ♦ (Vindobona)

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Bulgarian Minister of Economy Dragomir Stynev does not agree with S&P´s view on Bulgaria´s creditworthiness.

Bulgaria: S&P Downgrade Criticized Sharply / Picture: © Wikipedia / Imalipusram

In terms of fiscal discipline, Bulgaria performs well. At the moment, Bulgaria´s public debt level comes at 17.5%. Despite a severe economic crisis after 2008, Bulgaria did not call for external aid programs.

Also Bulgaria´s banking sector is relatively healthy. Although the country´s banking sector suffer from high non-performing loans, the banking industry is still well…