Bulgaria’s economy is recovering from the economic crisis but the outlook for the next few years remains bleak.
The economic growth of the Bulgarian state has been hampered by the collapse in the value of the ruble and the loss of its access to international capital markets, and it has been unable to offset the fall in the prices of imports, which have plunged.
The country’s government, which is responsible for administering the countrys economy, has been struggling to provide public services, including education and health, while cutting spending.
The government announced a budget deficit of more than 15% of GDP for 2018-2019, which was the largest in the EU.
The government has been spending more on pensions and health care than on essential services, and has also been cutting social spending, according to government data.
Bulgarians also have higher debt levels than the EU average, which means they have a higher burden of servicing their debts and spending on other public services.
Bulgarian Finance Minister Dimitris Avramopoulos said that the country’s debt is now equivalent to about a third of the countryes GDP, and that it will have to raise its borrowing from the private sector in order to achieve a balanced budget.
However, the IMF has raised the country s debt to more than 40% of its GDP, the third highest in the bloc.
“The government has done its best to get the economy moving, but it has not been able to sustain it,” said Alexei Shkurchev, the head of economic and financial research at VTB Capital.
Avramopoulos has been trying to reduce the burden on the public finances, with a number of measures, including a freeze on new debt, a restructuring of pension and health contracts, and a reduction in tax rates, which are among the lowest in the European Union.
The reforms have been met with some criticism from the opposition, however, as the new measures have not gone far enough in restoring the public’s confidence in the economy.
The ruling Socialists, who are leading the government in the parliament, have promised to introduce further reforms, including privatizing state-owned industries and cutting taxes, to bring Bulgaria back to a more stable state of affairs.
The economy remains weak, and the government is facing an uphill battle to bring it back to full employment and improve public finances.