2013 Perspectives – Slow Recovery or Another Up-Coming Storm
2013 came along with particular hopes and fears regarding the international economic situation – uncertainty that suppressed to a certain extent the financial markets and withheld the actual world economic recovery.
What we are seeing now, however, (at the beginning of April) seems brighter with regards to the future perspectives.
The USA managed to defeat more or less the ‘fiscal cliff’ taking a fresh breath and the re-election of Barack Obama for a second presidential term represents a certain warranty for the future fiscal and financial responsible behavior on a world scale.
Europe, on the other hand, kept on facing serious issues with indebted Euro zone member states since apart from Greece other affected countries appeared as well – Spain, Cyprus. Specialists are almost certain that the list will be expanded with at least one-two member states as currently the most jeopardized country is Slovenia – not-so-long-ago purportedly thriving and admired at. Despite all hardships, however, it seems that the key figures in the European political life will be able to handle the overall crisis setting numerous new restrictions and dependencies concerning the most affected countries. The possible collapse of the Euro zone now sounds rather exotic, improbable and farther from reality.
All of the events described above somehow influenced the financial markets which definitely mark an increase in the first months of 2013. Unfortunately, however, the real economy seriously lacks from the expected rates despite the prompt and accurate resolution to the so-far-existing problems and the recovery of the Chinese economy in the last few months. The economies of the developing countries are also far from their pre-crisis growth levels.
The majority of the world economic specialists avoid too great optimism at this stage bearing in mind the uncertainty in the enhanced and slightly stabilized economic environment. After all, this seems logical in the context of the numerous recent expert statements that the crisis was behind after which it appeared with new power and in a new area.
Despite the serious fiscal stability (compared to Germany’s one), Bulgaria was seriously affected by the world economic crisis implications (especially in terms of the social price to be paid). However, compared to the rest member states Bulgaria is still having bright perspectives for its economic future and along with the high probability that the reasonable government policy led so far by the main party will be continued after the election, with re-consideration of some improvement, give additional warranty for future investment development and economic growth.