Kristalina Georgieva: The Year will not be as Good as 2018, but Bulgaria is Immunized

Opinions | January 24, 2019, Thursday // 13:07|  views

2019 will not be as good for global growth as the previous one. However, Bulgaria is well immune from the financial crisis. This was stated in an interview with Nova TV, by the interim president of the World Bank, Kristalina Georgieva.

"Our growth forecasts are that it remains stable at 2.9%, but it is lower than the level predicted by the World Bank 6 months ago," she said.

"Bulgaria is well immune from the time of the financial crisis for now," Georgieva added, referring to the low debt level and the lack of budget deficits. According to Kristalina Georgieva, Bulgaria is a country with a good buffer in terms of budget, and in these conditions it has positioned itself well. The expert adds that one must think about the future because the world is becoming more and more competitive. Bulgarians are adaptive to change, but we have to apply this "talent" because we will need it very much in the rapidly changing world.

According to Georgieva, trade tensions between China and the United States are having an impact on investor and consumer stagnation and belt tightening.

"It's not good for growth," she says. There is more financial stress, interest is picked up, debts are very large and this creates fear of collapsing markets especially among the poor countries, Georgieva explained.

"When the big economies sneeze, the little ones catch pneumonia," she said.

Georgieva explained that there were already many centers that identify the directions of development and all should lift the measure a little - more attention to the investment climate.

"Our country stands in one place and does not climb up," she warned.

The World Bank Chief commented on the subject of Brexit. Kristalina Georgieva is convinced that the common sense of England and the European Union will prevail.