Strategic Elements of Macroeconomic Policies in Bulgaria

To formulate an overall vision of how to outline and work out adequate macroeconomic policies in perspective needs pinpointing the probable sources of economic tension as well as the respective areas of tension within the specific macroeconomic goals. There has been made an attempt in this paper to find out the major types of potential strains in Bulgarian economy in the mid-term and set out some preferable options of macroeconomic policies. The analytic study is aimed at standing up for the strategic principles of conducting macroeconomic management rather than constructing tactical ways for attaining some given short-term objectives. The whole analysis and the recommendations made are in the light of the liberal economic teaching and led especially by the belief that the key levers of macroeconomic policies are (without any claims about their hierarchical ranking) in the field of budget and monetary policy measures and on the other hand, within the scope of building of a functioning institutional environment of good quality.