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Crisis in Bulgaria to End on All Fools' Day, April 1 End

Crisis in Bulgaria to End on All Fools' Day, April 1 End

11/14/2009 12:28:52 PM

 

The hard economic and financial times will last till April 1, then things will get better, said Finance Minister Djankov

The crisis in Bulgaria will be over on April 1st (All Fools' Day), funny or not, this is the prediction of Bulgaria's Minister of Finance, Simeon Djankov. The worst period will be the last three months of 2009 and the first trimester of 2010.
"This period would be followed by a time of stabilization and growth of the economy," Djankov said.
He commented on the results of the Bulgarian economy in the period from July to September, according to Eurostat which stated that the productivity of the Bulgarian economy shrank by 5.8% for these three months.
"This is better than the expected decrease of 6.5%," Djankov dared be optimistic.
In Djankov's opinion, Bulgaria ranked in the golden mean in terms of curbing the effects of the world economic crisis in the European Union. Those doing worse than Bulgaria are Lithuania, Latvia, Estonia, Romania and Hungary. Some of the countries did not present information, Djankov said.

 

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