Time for Reforms

In its first few days in office the new government clearly indicated that Bulgaria seems determined to take important steps in the reformation of many sectors, which functioning continues to exacerbate state finances hindering normal economic development. Reforms are more than necessary judging from the actual condition of many social sectors as well as the annual reports of the European Commission.

Reforms as a key to development

The expected changes in key economic and social sectors are to stabilize the market-based economic environment in Bulgaria and to boost the overall recovery of the country.

Judicial reforms

Judicial reforms are arguably the most commonly mentioned problem in the European Commission’s reports on Bulgaria. This seems to be the most continuously reformed system that is still away from the expected results. That is why allegations sound logical and reasonable. Slow judicial procedures hamper actual law application exacerbating the image of the country as well as its overall economic environment. There seems to be a will for adequate reforms in this regard – however, this should be realized in practice.

Healthcare reforms

Healthcare is a sector which poor condition invariably aggravates state finances as well as the overall economic development of the country. The realization of these painful reforms seems inevitable and the present government demonstrated its readiness in this regard. There are hopes for positive development and actual optimization, however – only in theory for now. The practical manifestation of the above described reforms is to be assessed.

Pension reforms

Pension reforms represent a common topic of discussion in almost every European country. Bulgaria is not an exception in this regard – the demographic profile of the nation requires certain reforms in the social security system that could guarantee the successful operation of pension funds and the stability of pension payments. Many unpopular changes that would worsen in a way the current living standard are to be introduced, which would certainly cause enormous social pressure. Their role would, however, be crucial for balancing security transfers and pension payments.

Reforms in all above described sectors in Bulgaria are mandatory – their realization seems inevitable. If done successfully, this would represent a solid basis for future economic prosperity.

December 10th, 2014 Posted by RPNAdmin Filed in: Other