IMF Managing Director Kristalina Georgieva: Over 10% inflation for 2022 is the reality for Bulgaria

According to the Managing Director of the International Monetary Fund - Kristalina Georgieva, inflation rate above 10% for 2022 is the reality for Bulgaria. Inflationary processes are expected to be contained in 2023. Georgieva also said that the measures in the anti-crisis package of the Bulgarian government are very well chosen.

The European Union and the Central Banks are already taking decisive measures to curb price rises, Kristalina Georgieva said.

For this year, we should be prepared that inflation may even accelerate a little before it starts to fall. For next year, 2023, we are counting on the measures that central banks are taking and the fact that we already know what it means to have an energy shock, a food shock and measures are being taken both in Europe and in the world.

There are a lot of unknowns for 2022, Georgieva said - how long the war in Ukraine will last, how long the consequences will drag on over time and whether the pandemic will flare up again.

To date, she said, the two biggest problems are China's declining economic growth and inflation because it is forcing a tightening of monetary policy, and that could lead to a recession. So far, Bulgaria is not threatened by a recession.

Kristalina Georgieva also said that the measures in the Bulgarian government's anti-crisis package are very well chosen.

The most important thing now for Bulgaria is to absorb the funding from next generation eu, to have a plan and to implement it. As well as to be able to include in the anti-crisis measures the acceleration of some of those projects that were stopped because of corruption.

Today, in the presence of Prime Minister Kiril Petkov, lecturers and students, the Rector of the Uivesity for Natonal and World Economics awarded Kristalina Georgieva the honorary title of Doctor Honoris Causa for her role as an international leader and visionary.

images by BGNES

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