OECD Report Recommends Bulgaria Enhance Business Productivity and Address Fiscal Challenges
The OECD's Economic Survey of Bulgaria highlights the need for improved business productivity and fiscal policy to achieve resilient growth. While Bulgaria's income is converging with OECD economies, the productivity gap remains significant. Key recommendations include lowering market entry barriers, enhancing the education system, and implementing fiscal consolidation to manage pressures from defense, green transition, and aging. The report also emphasizes the importance of combating informality and corruption to foster investment and competition.
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The OECD report recommends that Bulgaria boost business productivity and address fiscal pressures to achieve resilient growth. Bulgaria's income is converging with OECD economies, but the productivity gap persists.
Key structural priorities include lowering market entry barriers and improving the education system. A front-loaded fiscal consolidation is necessary to address long-term fiscal sustainability amid pressures from defense spending and the green transition.
The report stresses the need to combat informality and perceived corruption to enhance the business environment, support innovation, and foster competition. Enhancing human capital through better education and public research investment is crucial for improving productivity and job quality.
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