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Bulgaria: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1996: Issue 013
Language:
English
Publication Date:
15 Feb 1996
DOI:
https://doi.org/10.5089/9781451804317.002
ISBN:
9781451804317
ISSN:
1934-7685
Pages:
108
Keywords:
ISCR; CR; U.S. dollar; exchange rate; broad money; real GDP
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund