Bulgaria Needs to Strengthen Institutions, Policies to Spur Growth, World Bank Says

Bulgaria will need to tap several growth drivers to speed up its economic growth and make it more sustainable and more inclusive, the World Bank has said.

Even though Bulgaria has achieved considerable progress in improving the standard of living of its population in recent decades, the share of Bulgarians at risk of poverty remains high for an EU Member State, the World Bank said on its website.

In a Systematic Country Diagnostic (SCD) report for Bulgaria the Bank concludes that “key to achieving faster, more inclusive, and more sustainable growth is strengthening institutions and policies”.

To achieve this objective, Bulgaria needs to make publuc spending more efficient, increase the skills and employability of its population and strengthen the institutional and legal framework for good governance.

You can access here the original article “Bulgaria’s Potential for Sustainable Growth and Shared Prosperity”.