Bulgaria's Fiscal Expansion: Navigating Through Stormy Waters

When the global economic crisis wreaked havoc across the world, most governments responded with a dramatic increase in spending. Economic policies had two main goals in mind: bailing out failing financial systems and maintaining demand with a boost in aggregate public spending. Like many government responses, Bulgaria chose fiscal expansion, however, its programs proved to present their own unique set of challenges and outcomes. Read more in CASE Network E-brief 11/2010 by Georgy Ganev.