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Taxes on Labor in 2009 - Calculator
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Economic growth during global recession
The official statistics in Bulgaria reported the preliminary data on GDP in Q3 2008. The real growth of the economy remained relatively high, although slightly decelerating compared to the previous (second) quarter. Considerable contribution to the relatively high growth is brought in by agriculture, which is typically character...
Is the foreign debt a problem for the Bulgarian economy right now
Using the macroeconomic approach, the problem could be both in the private and the public debt. The broad consensus is that Bulgaria does not have problems with the government debt. What is more as of October the total volume of the debt is covered by the fiscal reserve, i.e. the Bulgarian government does not have debt.Many anal...
Housing in Bulgaria - asset or liability
The main participants in the housing market in the recent months have reported decline in the number of the closed deals and drop in asking prices. The official statistics still shows the state of the housing market with a little lag. The data on Q4 2008 will probably register more serious decline of the housing growth. The slow...
It’s not time for Keynes now
In our opinion the more important question is not whether the forecast for growing unemployment will come true, but rather what the political risks, arising from a broad consensus around these forecasts. The threat of more unemployment is a significant problem for the politicians (as if it concerns solely them). With the officia...
Savings and consumption during crisis
Considering the recent signs for more tangible reflection of the global financial crisis on the real economy in Bulgaria, at least for now its impact on consumer sentiment seems rather limited. Whereas in the October business the NSI registered the biggest monthly decline (by 4.6 points) of the composite business climate indicat...
The role of government investments during crisis
Expansionary policy regarding public investments is planned by most of the governments, including the Bulgarian, as it was announced with the presentation of the government budget for 2009. The supporters of public investments as anticrisis measure state that it helps avoiding two main dangers – steady deflation and recession. ...
The real cost of money
Manipulating the interest rates is at least part of the explanation for the current financial crisis. This opinion is shared by most observers, which is one of the positive outcomes of the crisis – it focused our attention on the most heavy source of political risk in mature economies today – the central banks. The central banks...

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