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BULGARIAN ECONOMY PERFORMS WELL
01:00 Wed 30 Nov 2005
 

Though the EU clearly presented its criticism toward Bulgaria for its lack progress in various areas, it acknowledged that the country's economy was performing better than those of several  member states. Bulgaria still needed to implement effective measures in the fight against corruption and organised crime, but nevertheless had achieved a high economic growth rate, the Austrian Die Presse newspaper reported.
With an economic growth rate of 5.5 per cent for 2005, Bulgaria leaves behind almost all new EU member states and membership candidates. The unemployment rate, which is growing in almost all East European countries, is decreasing in Bulgaria. The percentage is still relatively high at 10.5 per cent, but progress has been made, the newspaper reports. According to a recent evaluation by the Austrian institute for economic research, one major threat exists in Bulgaria. This is that the Cabinet is not able to control exports and trade deficit grows as a result, mediapool.bg reported.
Bulgaria's state finance is also improving, Die Presse reports. The country manages to balance the budget and the national debt. The chance for Bulgaria's acceptance of the euro before other European countries is high, the publication concludes.

 
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