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Bulgaria: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in Bulgaria during 1990–95. In 1993, GDP continued to contract, albeit more slowly than previously. Real GDP declined by 2.4 percent owing to a drought-induced collapse in agricultural output. As consumption-driven imports rose and exports fell, the lower real GDP in 1993 was accompanied by a large current account deficit. The adoption of restrictive fiscal and incomes policies in 1994 enabled Bulgaria to retain the gains in external competitiveness acquired from the nominal depreciation.

Suggested Citation

  • International Monetary Fund, 1996. "Bulgaria: Recent Economic Developments," IMF Staff Country Reports 1996/013, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:1996/013
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=29567
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    Cited by:

    1. Stephen Pudney & Nikolay Markov & Robert Ackrill, "undated". "Indirect Tax Reform in Bulgaria," Discussion Papers in European Economics 99/3, Division of Economics, School of Business, University of Leicester.

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