crisis

Russia's invasion of Ukraine has shocked the world not only politically but also economically. The sanctions imposed in response to the war are almost unprecedented in their scale and scope and could lead to an economic divide deeper than that of the Cold War. The war and the sanctions will …

Do you remember when "smart heads" were roaming the television studios six months ago to comfort us? They were talking about how the crisis may be deep, but it will be short? How we will already be in recovery by the fall? How in 2021 we will fully recover to the levels of economic activity of 2019? How the trajectory of …

TEAM · 32: Is the crisis over? 0:21 – The macroeconomic dimensions of the current crisis (labor market, banking system) 11:02 – How does the crisis affect P2P lending platforms? 15:07 – Will we see another mass quarantine due to the "second wave" of Covid-19? 18:17 – The policy of central banks at the moment and …

Houston, we have a problem. Judging by all the news and statements from the government on the subject, it looks like Budget 2021 will be the most wasteful in a long, long time. The entire budget process and the discussions surrounding it are extremely puzzling to anyone with basic economic literacy. Why in …

Today, Prime Minister Borissov announced a new package of economic measures to combat the crisis worth 2 billion leva, with a strong emphasis on higher healthcare spending and social spending for pensioners and the unemployed. Although these social measures are not particularly large-scale in themselves, they signal a very wrong approach …

After hundreds of sips of coffee with "sugar", Prime Minister Borisov triumphantly returned to Sofia a few days ago and declared. The Prime Minister did not hesitate to boast that the negotiations on the European Recovery Fund and the next EU Budget ended with a definite success for Bulgaria and almost personally he ...

Let’s start with an important clarification. The purpose of this article is to refute some of the main arguments against the planned reduction of VAT from 20% to 9% specifically for the restaurant sector, which was announced by Prime Minister Borisov this week. The purpose is not to defend proposed VAT cuts for other …

Many of the policies that our and foreign leaders are proposing in the context of the Covid-19 pandemic can be described as Keynesian, named after the English economist John Maynard Keynes (1883-1946). He was born in Cambridge, UK, his basic education was in mathematics, he listened to lectures on economics from brilliant scholars such as …

At a special counter-briefing on Sunday, Prime Minister Borissov, provoked by President Radev's statements and veto on the state of emergency law, commented on a range of topics of key importance beyond the pandemic that has hit the world. He made a kind of joke at opponents of joining the eurozone and defenders of the currency board, telling us …

Crises expose the bones of reality, dispel the fog of political formulas and incantations. We usually spend the dramatic moments that have come into the public spotlight, separated from the real events in a fabricated version of the true facts. Effigies smeared with lipstick and adorned with sequins, we wage our ritual battles in front of the media cameras, …