The IMF called for better banking supervision in Bulgaria in the concluding statement of its mission to the country, which was released on Friday.
The IMF notes that the collapse of Corporate Commercial Bank (KTB) and the deterioration in the fiscal balance tested the country’s macroeconomic and financial stability.
The statement highlights that despite the challenging environment a modest growth was achieved in 2014, which is expected to continue in the new year.
Unemployment remained high, but registered decline, while lower commodity prices and EU-wide inflation contributed to deflation.
Growth in 2015 is expected to be around 1.25 %, which will be supported by …read more
Source: Novinite
