Bulgaria Needs No IMF Loan

This announcement was made by Simeon Djankov, the Bulgarian Finance Secretary. Djankov made it clear that Bulgaria needs no IMF loans, nor does it need to increase taxes, in order to pull the country out of the crisis. Djankov added that Bulgaria will recover without any foreign loans. The Bulgarian economy is expected to increase by 0.4% this year, after Bulgaria introduced a single taxation of 10 percent for all income levels.

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