![](https://4liberty.eu/phidroav/2015/12/file0001944433273-230x300.jpg)
How Bulgaria’s Fiscal Position Went All Wrong
Although Bulgaria has officially been in a budgetary consolidation phase during the entire 2013-2015 period, public expenditure went out of control on several occasions. Yet again the newly presented medium-term budget framework provides for decreasing deficits, while current expenditures (and thus deficits) are being hiked.