Банкеръ Weekly



Bulgaria is close to achieving a functioning economy. This was the conclusion that unified Bulgarian and foreign experts during the conference Bulgaria in Europe, held on July 15. The forum was organized by the Kokalis programme for Central and Southeast Europe at Harvard University. Petros Kokalis, member of the Board of Directors of the Kokalis foundation, took part in the conference, too.According to the experts, major advantages of the Bulgarian economy are the achieved macroeconomic stability and the GDP growth from -10.1% in 1996 to the record high of 5.8% in 2000, after the introduction of the Currency Board. A research of the Economist Intelligence Unit shows that direct foreign investments in Bulgaria are 8% up in the past four years. The fall of inflation - from 121% in 1996 to 7% in 2000, was also pointed out as a significant achievement.Thanks to a special videoconferent connection, the discussion also involved Harvard University's Center of International Development Foreign Trade Professor, Jeffrey Sachs.

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