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Review of agreement between IMF & Bulgaria begins
17 Oct '05
1 min read
The second two-week long review mission on the standby agreement with Bulgaria by International Monetary Fund (IMF) began on October 14.
IMF held the first mission for 2005 in September, and it was directly mainly towards the IMF leadership getting to know the recently-formed Cabinet.
Besides the concern about the large current account deficit, which is expected to reach 10 per cent of GDP by the end of the year, much higher than the agreed 7.6 per cent, the other issues that will be discussed are framework of Budget 2006, delays in business registration reform, disciplined approach to pension bonuses at the end of the year, and the textile sector, with reference to the EU-China textile agreement signed on June 10 2005.
IMF held the first mission for 2005 in September, and it was directly mainly towards the IMF leadership getting to know the recently-formed Cabinet.
Besides the concern about the large current account deficit, which is expected to reach 10 per cent of GDP by the end of the year, much higher than the agreed 7.6 per cent, the other issues that will be discussed are framework of Budget 2006, delays in business registration reform, disciplined approach to pension bonuses at the end of the year, and the textile sector, with reference to the EU-China textile agreement signed on June 10 2005.
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