Bulgarian Industrial Association forecasts only 2% economic growth in 2009
13.11.2008
Source: Novinite.com
The Bulgarian Industrial Association submitted on Wednesday a letter to the Parliament, the Council of Ministers, and the other relevant institution asking for emergency preemptive measures against the financial crisis in the 2009 Draft Budget.
The emergency changes in the 2009 Draft Budget that the Association insists upon include the lowering of the projected economic growth from 4.5% to 2%; the lowering of the forecast inflation from 5.4% to 4.5%; a current-account deficit of 24-26% of the GDPf instead of the forecast 22.2%; expectations for foreign direct investments of up to EUR 4bn instead of the projected EUR 5.3bn.
The Association also insists that the 2007 budget surplus be redistributed, and that more funds be allocated for transport infrastructure at the expense of the social expenditures.