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The global crisis as a test for the banking system in Bulgaria
The global financial crisis that started from the housing market in the US put up new challenges before the world banking system. Many of the largest credit institutions in the world reported substantial losses from their exposition toward risky assets. The capitalization of some the largest banks in Europe and America contracte...
Energy policy debate – thus far not considering macroeconomic facts
Several things must be considered when making energy policy.First, market is working. When a particular good becomes relatively scarcer price rise which restricts consumption. This is exactly what is happening on the single European market regarding oil products’ consumption – for the period 2001-2006 it remains unchanged despit...
Hard landing is unlikely for the Bulgarian economy
With respect to the forecasts of slowing growth the Bulgarian economy continues to expand at stable rates. And despite pessimistic expectations of some analysts, especially in the context of the current problems of the three Baltic economies (Estonia, Lithuania and Latvia) hard landing for Bulgaria remains for now unlikely. Fact...
Economic approach to problems in the Ministry of interior
Part of the political assignment before the minister is the prioritizing of the important things, which have to be conveyed, including reduction of the expenses for actions, which are of significant public benefit. Thus for example, the fight with organized crime must be conveyed at another foundation, not pursuing, i.e. engagin...
Which prices are important to economic behavior?
Since mid-2007 the topic of inflation began to accelerate in the domain of media popularity. In the last few moths this popularity gradually turned into irrational obsession. That is what it is all about. Inflation is a monetary phenomenon. In other words, it is characteristic of money. We talk about inflation when the value of ...
Recommended indexation of wages in the private sector does not make sense
The schemes for indexation of wages are related to high risk of additional inflationary shocks, leading to inflationary spiral, which could after all turn out harmful to employment and competitiveness of a given economy.Whereas the monetary authorities in the Euro area recommend avoiding inflation-based indexation of income, in ...
The first outcry for lower taxes
At first sight not particularly clear as message and claims, the transportation firms’ outcry might have an important place in the political debate in Bulgaria. This is the first organized outcry for lower taxes not only domestically, but also probably within the European Union in the most recent history. The transporters’ outc...
Lower tax rates and more efficient public expenses
The long holidays, which decelerated the pace of economic and political life in the country, allowed for the government to avoid inconvenient questions, related to the debate for future tax rate reduction. These questions are especially urgent when:- The budget surplus, including the relations with the EU reached BGN 1664 millio...

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