Bulgaria : The Dual Challenge of Transition and Accession

Bulgaria : The Dual Challenge of Transition and Accession

The study assesses Bulgaria's progress in its transition to a market economy, and in its preparation for accession to the European Union (EU), through an analysis of economic developments during the 1990s, with special emphasis on the 1997-199...

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Bibliographic Details
Main Author:	World Bank
Format:	Publication
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCOUNTING ACCOUNTING STANDARDS ADMINISTRATIVE PROCEDURES AGRICULTURE AIR POLLUTION AIRPORTS ALLOCATIVE EFFICIENCY ANTI-CORRUPTION BANKING SECTOR BANKING SYSTEM BORROWING BUDGET DEFICIT CAPITAL MARKETS CD CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE COMMAND ECONOMY COMPETITIVENESS COMPLIANCE COSTS CONSOLIDATION COUNCIL OF MINISTERS DEBT MANAGEMENT DEBT SERVICING DEBT SERVICING COSTS DECISION-MAKING DECISION-MAKING PROCESSES DEFICIT FINANCING DEPOSIT INSURANCE DISCRIMINATION DRINKING WATER ECONOMIC ASSISTANCE ECONOMIC COOPERATION ECONOMIC CRITERIA ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC POLICIES ELECTRICITY EMPLOYMENT ENERGY EFFICIENCY ENTERPRISE RESTRUCTURING ENVIRONMENTAL PROTECTION EXCHANGE RATE EXPENDITURES EXPORTS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FISCAL FISCAL MANAGEMENT FISCAL PRESSURE FISCAL STANCE FISCAL SUSTAINABILITY FOREIGN DIRECT INVESTMENT FOREIGN TRADE FREE TRADE GDP GENERAL ELECTIONS GOVERNMENT DECISION GOVERNMENT INTERVENTION GROSS DOMESTIC PRODUCT HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT HUMAN RESOURCES IMPORTS INCOME INCOME LEVELS INFLATION INSTITUTIONAL CAPACITY INSTITUTIONAL FOUNDATIONS INSTITUTIONAL REFORMS INSTITUTIONAL STRUCTURE INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT CLIMATE LABOR MARKET LABOR MARKET POLICIES LAWS LEGISLATION LICENSES LIQUIDITY LOCAL GOVERNMENT LOCAL GOVERNMENTS LONG TERM ASSETS MACROECONOMIC POLICIES MACROECONOMIC STABILITY MUNICIPAL FINANCE MUNICIPALITIES OIL OIL PRICES ORGANIZATIONAL STRUCTURES OWNERSHIP STRUCTURE PER CAPITA INCOME POLICY ENVIRONMENT POLITICAL APPOINTMENTS POLITICAL UNCERTAINTY POLLUTION POLLUTION CONTROL PRIVATE SECTOR PRIVATE SECTOR INVESTMENTS PRIVATIZATION PRIVATIZATION PROCEEDS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAMS PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC PROCUREMENT LAW PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICES REGULATORY FRAMEWORK RISK MANAGEMENT SECURITIES SOCIAL COSTS SOCIAL INSURANCE SOCIAL POLICY SOCIAL PROTECTION SOCIAL PROTECTION REFORM SOCIAL SECURITY SOCIAL STABILITY STATE AGENCY STATE AID STATE OWNERSHIP STATE-OWNED ENTERPRISES STATISTICAL ANALYSIS STRUCTURE OF GOVERNMENT TAX TELECOMMUNICATIONS TRADE LIBERALIZATION TRANSPARENCY TRANSPORT TREASURY UNEMPLOYMENT UTILITIES WASTE MANAGEMENT WATER SUPPLY WORLD TRADE ORGANIZATION
Online Access:	http://documents.worldbank.org/curated/en/2001/05/1490141/bulgaria-dual-challenge-transition-accession http://hdl.handle.net/10986/13958

Description
Summary:	The study assesses Bulgaria's progress in its transition to a market economy, and in its preparation for accession to the European Union (EU), through an analysis of economic developments during the 1990s, with special emphasis on the 1997-1999 period. It identifies the major challenges the country faces in sustaining macroeconomic stability, and accelerating growth. To maintain fiscal stability and ensure adequate public investment to gradually reduce the public debt will require building strong fiscal risk, debt management skills. The public investment required to meet the dual challenge of completing the transition, and joining the EU, is significant. The Government's remarkable reform program of the last three years, has radically transformed the economy, with conditions established for high, and sustained growth. Yet, unemployment is growing, and by and large, the standards of living have significantly declined, meaning further reforms will be needed to boost private investment, and establish the supportive institutional foundations required for a market economy. The reform agenda focuses on ensuring a public-private interface through macroeconomic stabilization, eliminating state direct interventions, and building the public-private legal framework, as well as capacity, and credibility.