An article IMF
Approves Stand-by Credit for Bulgaria dated July 19 is available from
Infoseek. It informs about the 20-month
stand-by credit for Bulgaria equivalent to about US$582 million. 40% of
the total amount will be disbursed within two months. Other major points of
the article:
expected stangation (0% growth) of the GDP in 1996 and projected real GDP growth
of 2.5% in 1997
current inflation of 20% per month projected to be reduced to 2.5% by
the end of 1996 and 1.5% by the end of 1997
overall consumer price index expected to be 105% in 1996 and
20% in 1997
projected external current account surplus of 3.1% of GDP in 1996
and 2% of GDP in 1997
25% of the state-owned assets should be privatized by the end of 1996
and at least another 25% in 1997
