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Risks before the credit expansion
One of the key events of the past 2007, which will probably to a large extent determine the dynamics of the American (and partially the world) economy in the medium term, was the housing crisis in the USA. The stagnation of credit markets on a global scale was combined with deceleration in the growth of housing prices in Europe ...
There are no economic and social arguments against the privatization of the state enterprises left
About a year ago we wrote that employment in 2007 will reach some 3.3 million. This means some 190 thousand more working positions in comparison with a year earlier. Then the forecast was declared too brave by our colleagues, but today this is confirmed by the latest data, announced by NSI. Although the government considers this...
Housing or stocks
Housing estate prices continued to climb in 2007 as well, as the average pace up to the moment is around 34%, as compared to a year earlier. These facts must reassure investors in Bulgarian assets after the stock exchange decline in recent months. We must however take into consideration that the main contribution belongs to inte...
Kindergarten economics
The new electronic system for enlisting children in kindergartens in Sofia, whose meaning was to help parents and introduce relatively objective and transparent principle for children enlistments, failed at its launch. This induced broad public discussion and raised again the main problem – the deficit of places in kindergartens...
What municipalities miss when making decisions about local taxes
The Plovdiv municipality made an example how a municipality must not make decisions on the local budget. We do not expect many municipalities to approach discussions on local taxes in 2008 with ultimate transparency. This year is important to tax decentralization in Bulgaria, because municipalities can already determine local ta...
Ready for Business 2008
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How could global economy shocks transfer in Bulgaria
Most analyses on “too high” inflation in recent months in fact started the much broader debate on the transfer of external shocks into the Bulgarian economy. Since several years the global economy works under rising prices of mineral resources and energy sources. When however in 2007 the increasing price of crops was added, the ...
The year of risk
The past 2007 will be remembered as the year of considerable capital market development. The stock exchange trade registered records from intensity and prices’ perspective. In line with this, its attractiveness as a place for raising capital increased – we witnessed not only growing number of initial offerings (some of which rai...

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