Prime Minister Rumen Radev held talks in Sofia with IMF Managing Director Kristalina Georgieva and IMF Mission Chief for Bulgaria Fabian Bornhorst, with discussions centered on Bulgaria’s economic outlook, competitiveness reforms, and the role of new technologies and artificial intelligence, according to the Government Information Service.
Radev said the government is seeking a “qualitative change” in the economic environment, focusing on attracting high value added investment to support modernization of the economy. He underlined that Bulgaria remains among EU countries with the lowest public debt, while also noting that in recent years it has been among the member states with the highest level of borrowing.
He warned that recent growth has been driven mainly by domestic consumption, while investment and industrial output have lagged. “Over the past five years, economic growth has been driven primarily by stimulated domestic consumption, while investment and industrial production have lagged behind. We must change the growth model and place investment, manufacturing and exports back at the center of economic development. Only then can we achieve sustainable growth, higher productivity and better incomes for citizens,” Radev said.
