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The Time of Our Progress Expires Ruthlessly
Misery and poverty reign in Bulgaria
Prof. Dimitar M. Ivanov
Prof. Dimitar M. Ivanov, economist from London, accepted 'Standart's invitation to make a prognosis on our economy in 2003. He is an economic advisor to President Parvanov and coordinator in his International Economic Council. In his analysis Prof. Ivanov is expressing his personal opinon.
It's not for the sake of the New Year's drawing forecasts that I was bolstered on the article. Beyond dispute, 2003 is of particular social and economic importance to this country. The world has faced a complex political and economic situation. Unfortunately, the reforms in Bulgaria slumped again, thus reminding us about 1996. Meanwhile, we just have no time for further delay in our economic development. The New 2003 will be very tough for the world economy. In Europe the economic growth has nearly stopped in the last trimester of 2002. Bulgarian economy in 2003 is at the gateway of a new world - full of uncertainty, political and economic risks.
One of the key problems of the Bulgarian society is the concentration of wealth in the hands of a select few. This concentration is one of the major reasons why Bulgaria faces more poverty, unemployment and lower living standards than any other Central and East European country.
The government has said proudly that Bulgaria's rate of economic growth is the highest in Europe. Surprisingly, only a bit of that growth really affects the life of ordinary people, their yearly incomes and savings.
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