Bulgaria – Grand Infrastructural Projects
One of the ways to sustain the economic level in crisis applied by the Bulgarian government (as well as by many other European states) is grand infrastructural projects investment. This, of course, is not possible without the European union’s funding on already approved construction of certain infrastructural projects.
Investments in large-scale road and transportation facilities, co-financed by the EU, were in the basis of the management program of the former Bulgarian government as a key anti-crisis measure. Unfortunately, however, it turned out to be insufficient to attain the efficiency sought, i.e. – economic growth through such stimulus compensating other economic areas’ downturn.
Although the increased-government-spending theory as a formula to overcome the economic and financial crisis is not deprived of logic at all, especially in retrospect taking into consideration the way the “Great Depression” from the late 30′s of the XX century was handled, we should also bear in mind the fact that such policy is to be applied along with careful positioning in the social area and detailed analysis of its impact on and co-relation with other economic areas.
However, we must acknowledge that the construction of high ways, transportation facilities, water treatment plants, etc. undoubtedly creates many short-term positive economic effects (jobs) as well as long-term ones (enhanced investment environment). That is why such investment policy should be closely analyzed and carried out in conformity with other anti-crisis measures in an effort to attain a positive outcome for the economy.
In terms of the latter Bulgaria is steadily pacing forward with the successful realization of key local and international infrastructural projects – the “New Europe” bridge bonding the cities of Vidin and Kalafat, “Trakiya” high way linking the capital city of Sofia and the Black Sea port of Burgas, “Maritza” high way connecting Turkey and “Trakiya” high way, etc. These projects (some of which are currently in process of intensive construction) are realized with the help of the European union and are expected to improve tremendously the local economic life in long terms, and provide invaluable jobs to the local people in short ones.
Doubtless, that is one of the most important ways of contribution of the Bulgarian government to the successful handling of the economic crisis and eventually – of keeping up the country’s economy to the highest possible level.