Friday, May 16, 2008
Bulgaria can ride the storm, says finance minister
Bulgaria’s finance minister has said the country’s swollen current account deficit does not imperil macro-economic stability, amid mounting concern that the Balkan state is poised for capital outflows and a hard landing.
“We have sufficiently large cushions in place [to] minimize the risks related to liquidity and solvency, so our current account deficit does not jeopardize stability or economic growth,” finance minister Plamen Oresharski told Emerging Markets.
The central bank announced on Thursday that the country’s current account deficit stood at 5.1% of GDP in the first three months of the year, down from 5.4% in...
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