2014 passed under the sign of decreasing unemployment and increasing employment in Bulgaria. Although a big part of the population still hasn’t felt the benefits of these favourable tendencies, they are not only present in the leading economic centres, but also in some of the smaller regions of the country.
We have to create a comprehensive set of energy options that would leave us less vulnerable in the face of the power escalation with any potential adversary in control of a considerable energy resource.
On May 6, 2015, in Bratislava, the F. A. Hayek Foundation organized an international seminar titled: “Gold plating – National Issues vs European Legislation”, reflecting an increasing interest of Slovak stakeholders on the topic of Gold plating.
Unlike in the EU, where SMEs are among Horizon 2020 priorities, in Ukraine the role of SMEs in innovation and S&T development is underestimated on the policy making level.
The ongoing conflict and economic downturn have taken a toll on Ukrainian businesses across the sectors and sizes. For them, the current political and market uncertainty would make a zero-growth scenario look like a positive development, which, however, is not yet in sight.
For an average observer, the past month in the United States has been characterized by a frenzy of oppressive government legislation designed to infringe upon personal liberty. While this has been true for most of the Obama administration, the maelstrom, whipped up by the media, on this specific issue regards a minor law passed by the state of Indiana and not the federal government.
Is there a difference between a starting entrepreneur and a disabled person? Yes, there is, and it’s a big one. A disabled person has much fewer options if he or she wants to get a government aid compared to a starting entrepreneur. I remembered this joke when I was reading one of the government strategies. But the joke may soon become a reality if the government decides to implement it. And that’s not funny at all.
European politics will surely highlight one of the days in their calendar the next week, to check the results of the elections and eventually relax again. Up to this, the EU has to, as every five years, await the sleeping volcano, which in event of its explosion, may cover the EU with darkness.
The economic situation in Ukraine in 2015 and 2016 will depend on progress in externally supported reform program and on stabilization in the Eastern Ukraine. Fiscal consolidation, decline in real wages and unemployment will cause reduction of real private consumption. Weak hryvnia, despite dragging down consumption and investments, helps to increase fiscal revenues and narrow the current account deficit.
In March, Ukraine’s government adopted the Action plan for reforms in 2015 and 2016 while the IMF board approved four-year USD 17.5 bn extended arrangement under the Extended Fund Facility (EFF). The EFF supports ambitious program of Ukrainian authorities, which would in IMF words ‘put the economy on the path to recovery, restore external sustainability, strengthen public finances, and support economic growth by advancing structural and governance reforms, while protecting the most vulnerable’.
