At Least 3 Years Needed For Bulgaria To Overcome The Crisis

The first symptoms of Eastern Europe's overcoming of the financial crisis will be felt in the middle of next year.This was forecasted by the Italian economist Andrea Kasini, who is a Chair of the European club in the Bulgarian commercial-industrial chamber.Bulgaria, however, needs at least three more years to return to the previous rate of its economy, the financier forecasts.According to him it would be good if the country uses the EU funds more effectively, increases its competitiveness and ties salary increases to productivity.These are just a part of the measures, which will help the economy of the country in the conditions of a world financial crisis.In the period 2007-2013 the country has the opportunity to receive over 6 billion Euro from the EU.If these funds are used, this will equal about 5% of GDP for the years up until 2012. According to financiers this flow of capital can significantly relieve the enormous commercial deficit on the current account.