Modern Diplomacy
Published 5 hours ago
Getting to know Bulgaria’s “Fiscal Reserve”
Recently, Bulgarian commentators and policymakers have been whispering on the status of the “Fiscal Reserve”. This financial instrument is amongst the main indicators of Bulgaria’s economic stability. It is also a source the government draws from to finance extraordinary expenses without recurring to debt. Given the reserves’ importance, it is unsurprising that some wonder whether the government is wasting precious resources now and then.
It is important to notice that Bulgaria’s fiscal reserve is actually an aggregate indicator which includes heterogenous sorts of components. Such a detail is actually essential because the government cannot earmark all of these resources freely for current expenditure. Thus, doubts relating to the fiscal reserve regard not just its level, but also its composition. To get a clearer picture, one may simply say that there are three main categories of
China s diversified outbound direct investment portfolio, especially in sectors like healthcare, scientific research and technical services, will help ease COVID-19 pressures for more countries and regions and revitalize the global economy, experts said on Thursday.
China s diversified outbound direct investment portfolio, especially in sectors like healthcare, scientific research and technical services, will help ease COVID-19 pressures for more countries and regions and revitalize the global economy, experts said on Thursday.
The comments came after the Ministry of Commerce said that China s ODI grew by 11.4 percent on a yearly basis to $43.9 billion during the first four months of the year, while the total contract value of Chinese companies newly-signed overseas projects reached 463.93 billion yuan ($72.74 billion), up 1.2 percent on a yearly basis, during the same period.
In addition to investing in traditional sectors, such as manufacturing, agriculture and infrastructure projects, in overseas markets, China s ODI in scientific research and technical services, transportation, residential services, healthcare and other areas increased during the four-month period, said Gao Feng, a spokesman for the ministry.
The EU’s new long-term budget and Recovery and Resilience Fund, worth €1.8 trillion, offer a once-in-a-generation opportunity for the EU and Bulgaria, Elisa Ferreira, Commissioner for Cohesion and Reforms told a mostly Bulgarian audience on Thursday (18 February).
Ferreira was the keynote speaker at a virtual conference organised by EURACTIV Bulgaria, titled “European support for economic recovery, cohesion and reforms in Bulgaria”.
‘Perfect timing’
Speakers said the timing of the conference was “perfect’.
In early February, Bulgaria sent a second draft of its Recovery and Resilience Plan to the European Commission. Nevertheless, critical voices in the country warn that the current Bulgarian government could not make the best use of European funding. Bulgarians will vote in general elections on 4 April.
Neue Formen des Konsums sollen Chinas Wirtschaft ankurbeln german.cri.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from german.cri.cn Daily Mail and Mail on Sunday newspapers.