According to many Bulgarian economic experts and analysts, that figure is quite high and ambitious and the target set by the country’s government is unrealistic, especially against the backdrop of the official policy line, as well as within the context of the factors, which, according to Bulgaria’s Premier, would lead to such a staggering economic performance.

According to the country’s official policy, Bulgaria’s gross domestic product is expected to reach 2.1% in 2016 and the most optimistic scenario forecasts a GDP growth to the tune of 3% year on year. The country’s official policy also reads that the main goal of the authorities regards continued stability in all spheres. However, an economic upsurge worth 4.5%, as compared to the forecast 2.1% GDP growth would be nothing, but an explosion of the local economy. Experts contend that such economic growth would shake the whole country, rather than the economy sphere only and that a series of structures and sectors would turn unprepared to cope up with a possible upsurge of 4.5%.

What is the force, which according to Premier Borissov, would stimulate such an increase of the country’s GDP and place Bulgaria at the top of the world ranking in terms of economic growth. Local consumption would trigger higher economic growth, Premier Borissov said.  However, there are no serious indications that consumption level in Bulgaria would increase significantly in the short term. On the contrary, consumption is likely to remain steady and people are expected to continue buying only cheap and low quality essentials. The salaries in the public sector are not expected to see a sharp increase. The social payments, pensions, scholarships, doles, maternity benefits and reliefs are not likely to increase significantly either. In other words, the Bulgarian citizens will not be encouraged to spend twice more. 

The foreign direct investments and the EU funds would stimulate economic growth. They may pull the country’s economy and cause a modest GDP growth to the tune of 1%-2%, but there are no indications about forthcoming large-scale projects and payments. In other words, stability is the word that is relevant for these sectors, too.