Fiscal policy must remain disciplined, says BNB Governor Dimitar Radev

“The correct response in today’s crisis is not overreaction”, Bulgarian National Bank Governor Dimitar Radev said at a business breakfast organized by the American Chamber of Commerce in Bulgaria.

According to him, in periods of elevated uncertainty, the quality of domestic policy becomes even more important, because the more unstable the external environment becomes, the more predictable the domestic one must be.

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“Fiscal policy must remain disciplined. Fiscal policy should preserve buffers, not weaken them further. Where support is necessary, it should be targeted, temporary and efficient”, added Dimitar Radev, also calling for energy efficiency, as it increases competitiveness and reduces external vulnerability, BGNES reported.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov