Първото приложение на новата процедура за макроикономически дисбаланси и резултатите за България
The First Application of the New Procedure of Macroeconomic Imbalances: Results for Bulgaria

Author(s): Silvia Kirova
Subject(s): Economy, National Economy, Public Finances
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Macroeconomic Imbalance Procedure; Bulgaria; European Union; Euro Area; Fiscal Discipline; Alert Mechanism Report
Summary/Abstract: In 2011, as a response to the Euroarea sovereign debt crisis, a package of six legislative acts was adopted, whose aim was to improve the economic governance and enhance the economic policy coordination in the European Union and the Euroarea. Two of those legislative acts introduce a completely new procedure for the prevention and correction of macroeconomic imbalances. In 2012 this procedure was implemented for a first time. In the annual Alert Mechanism Report under this procedure, twelve EU member states are identified, Bulgaria being one of them, for which in-depth reviews are warranted in order to ascertain the nature and the seriousness of the existing macroeconomic imbalances. This report aims at presenting the results from the first implementation of the new procedure, as the emphasis is places on the results of the in-depth analysis for Bulgaria and the policy recommendations.

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