On February 22, the World Bank presented the report “Review of Public Finances in Bulgaria”, which examined revenues, efficiency and effectiveness of state expenditures in various sectors.
The assessment delves into topics like Bulgaria’s fiscal stance post various shocks and crises, the influence of demographics on spending in crucial sectors and strategies to address the anticipated growth deceleration.
During the event, Deputy Finance Minister Georgi Klissurski announced that the Government was currently making efforts to attract a significant volume of foreign investments, which had been largely absent in recent years. Additionally, he emphasized that there was currently a great deal of interest from foreign companies.
He announced that 2023 was a record year in recent history in terms of the size of public investments injected into the economy, which amounted to nearly 98% of the planned 8.1 billion BGN. He expressed hope that in 2024, all planned investments would be realized.
“The economy continues to grow significantly faster than the European average, and this trend must continue for us to reach the EU living standards more rapidly,” he added. (Novinite/Business World Magazine)