2014 – Year of Hope and Recovery

What should we expect from the coming 2014?

Having in mind today’s accelerated speed of important events and constant ongoing changes, when the world apparently needs serious reforms to meet the challenges of its own progress, we traditionally anticipate the following year with hopes for better days. 2014 seems bound to high expectations – hopes for recovery and tangible prosperity. These are the main goals before the leaders of almost all national economies. The question, however, is whether the year will live up to the high expectations and whether it is realistic to raise such requirements within such a short period of time.

International scale

In international terms the expectations suggest that the USA economy growth increase will continue and the unemployment will drop to new post-crisis minimums indicating steady recovery. It is highly possible that as a result of this the federal budget will be stabilized, the fiscal deficit will be set under control, the political tension will decrease and the strong international positions of the country will get partially restored.

The European Union in a certain way already resolved some problems in the indebted member states’ budget deficits. These measures, however, did not lead to the expected results, which is why many specialists explained that such would appear in a certain period of time that is needed to feel the real effects on the economy and people’s lives. These are the very expectations towards 2014 – less unemployment, slight growth and further recovery.

National scale

Doubtless, Bulgaria welcomes 2014 with hopes for more tangible economic growth, less unemployment, more foreign investments and more stable political environment. The government already demonstrated it will take some measures aiming to stimulate consumption and move (“restart”) the economy. An extremely social budget was approved introducing a series of new and more tangible social benefits. Besides, some tax and insurance changes were introduced – the interest tax was reduced and the tax itself is to be abolished in several years; the pension age increase was frozen for one year; and recently there have been some rumors about a higher income tax rate introduction for the richer. These very measures define the major hopes of the ordinary Bulgarian people for 2014.

Conclusions

Hardly would 2014 bring the complete recovery of the world economy from the more-than-half-a-decade-continuing crisis, but there are enough reasons (more than ever) to consider that the accomplished in the previous year could be confirmed and even enhanced in a lot of aspects, aiming to achieve further progress in many areas – hence, achieve an overall improvement in people’s life.

December 30th, 2013 Posted by RPNAdmin Filed in: Other