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| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1845 |
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The CBA also forbids the BNB to lend to commercial banks, unless the financial system is endangered. The introduction of the CBA was an important factor in lowering interest rates and inflation, stabilizing the economy and simplifying predictability of the economic environment.
Practically, this meant a reduction of inflation to single digit rates, 7...
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Sustaining this policy, Bulgaria was recognized by the European Commission as a functioning market economy, if it keeps up this reform program.3
Bulgaria's trade policies have always played a key role in its economy, with imports and exports accounting for more than 80% of its GDP. Moving away from state-trade and protectionism was necessary to be competitive on the world market, and to integrate in the economy...
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