In search of the feel-good factor

Bulgaria's finance minister, Milen Velchev, has an impressive record. His country's economic fundamentals are far better than those of many in central and eastern Europe. But the population hasn't got the feel-good factor.

How strong is the government right now? I think we are in a fairly comfortable position, mostly by virtue of the economic track record that we’ve established in the past few years. The growth rate has been between 4% and 5% for several years in a row. We have a low single-digit inflation rate this year, with the public debt to GDP ratio substantially down in two years from 75% to 50%. We’ve had a stream of credit rating upgrades – eight of them in two years.

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