World Bank experts and business discussed economic prospects in Bulgaria at VUZF
Growth in Bulgaria's economy is slowing down and the country should seek for new engines of growth - this is one of the most important conclusions learned during the workshop-discussion on "Bulgaria's potential for sustained growth and shared prosperity", organized by the VUZF University together with the World Bank. The event, which took place on 14 September in VUZF gathered leading Bulgarian economists, experts and analysts, and representatives of the most significant employers' organizations.
The discussion was part of the consultations, which the World Bank held in Bulgaria in the drafting of the new partnership strategy with the country. Within the framework of these consultations, the international financial institution expects to learn more from all interested parties what would be the priority areas in the development of Bulgaria in the long term to 2020.
The event was opened by Assoc. Prof. Grigorii Vazov, Rector of VUZF and Mr. Tony Thompson, Permanent Representative of the World Bank for Bulgaria, Slovakia and the Czech Republic, who presented the main conclusions of the last analytic screening for Bulgaria. After his presentation followed active discussion between representatives of employers' organizations, the financial elite and the academic community, including prominent professors from the VUZF University.
Economic growth in Bulgaria has slowed and current levels of growth our country will not be enough to reach the European standards of quality of life within a generation, was clear from the presentation of Tony Thompson. In addition, Bulgaria is among the countries with the sharpest decline of the working-age population in the world. These negative trends impose the need for new engines to ensure a quick, comprehensive and sustainable economic growth.
During the discussion was highlighted three key policies of transformation aimed at improving the management, the skills of the population and the way in which public expenditure is spent. The first one involves the creation of a quality institutional and legal framework, the second covers a variety of ways to enhance the competitiveness of the population in the labor market, and the third is aimed at more efficient use of public funds.
Pictures you can see HERE.