The IMF Executive Board finished a third review of Bulgaria's performance based on the governmental programme for economic development.

The programme was created under a stand-by agreement with the IMF. Bulgaria's engagements were extended by another six months to help Bulgaria meet economic requirements related to the country's EU accession.

IMF approved Cabinet efforts to ensure macroeconomic stability through the execution of sound fiscal policies and structural reforms, a Council of Ministers press release said.

Bulgaria managed establish a market-oriented economy despite international challenges, IMF's Executive Board said.

Some of the measures the Cabinet should continue implementing include restriction of credit expansion and improving competitiveness of the Bulgarian economy, the board said.