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Bulgaria has taken serious steps to deal with the pandemic and the economic crisis, but it can do more.
The opinion is from the managing director of the International Monetary Fund (IMF) Kristalina Georgieva, quoted by BTA.
He warned Bulgarian journalists that without decisive action after the pandemic, inequality in society will increase and, to recover from the crisis, we will need fiscal resources and a fairer and more forward-looking fiscal policy. “We can stimulate growth with proportional taxation Georgieva said. The pandemic does not hit equally, there are sectors that benefit from it and not only can, but must also participate in supporting the losing sectors “.
According to Georgieva, flexibility is needed in fiscal support. So far, it has been universal for everyone, but we must think about switching to the sectors where it will benefit the most, he said. Aid can be directed to working people, and those with low qualifications for support to acquire new knowledge and opportunities, and this will happen only with investments, Georgieva noted.
The IMF expects a 4% drop in the Bulgarian economy in 2020 and a 4.1% recovery in 2021, which Georgieva commented, saying that Bulgaria is doing relatively well through the economic crisis caused by the pandemic.
Georgieva does not expect countries to take action to shut down the economy, although this is not ruled out if the pandemic turns into a catastrophic risk for people, Georgieva said.
