Bulgaria complies with EU financial rules, EC marks

A report of the EC, published today reads that Bulgaria complies with the EU rules for financial discipline, despite the urgent state expenses over the last year. The authors write that the deficit in the State Government sector reached 5.8 percent of GDP in 2014, which exceeded the 3 percent goal, but determine this exceeding as extraordinary and temporary, because it was due to a sudden event outside the control of the government, related to the bankruptcy of the Corporate Commercial Bank. Besides that the EC expects the deficit this year to go down to 2.8 percent and that is why it doesn’t recommend any sanctions against Bulgaria.

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