Home / The University / Faculties / Faculty of Economics and Business Administration / News / Ch. Assist. Prof. Vasil Karaivanov commented Bulgaria's entry into the OECD and the introduction of the euro




Ch. Assist. Prof. Vasil Karaivanov, a lecturer at the Faculty of Economics and Business Administration, was a guest on "Studio Banker" and commented on the topic of digitalization, Bulgaria's entry into the OECD and the introduction of the euro.


Asked by the presenter about the long-term prospects and how to look beyond and see if the strategies and measures are sound, reasoned and targeted, Assist. Prof. Karaivanov said: "Each economy of each country and its development is guided by a trajectory. What follows is a crisis or a critical period that shifts the initial trajectory, and then the question is whether the economy will return to its original trajectory or take a new path. If we look back in time - 2000-2009 - Bulgaria was moving on a relatively successful trajectory, there was a large inflow of investment, the economy was generating money. After the crisis of 2009-2010, things turned around - there was a decline worldwide. Our economy has embarked on a new path, led by money and it has begun to overtake the real economy. The money that came from EU funds, loans from the state and economic entities, the surplus of exports and the money that Bulgarian immigrants sent to Bulgaria, GDP grew every year with the money that came to the country. We followed a trajectory in which money generated the economy, not the economy - money".

"What we have as a resource and potential at the moment gives us hope in terms of digitalization in recent years in all areas of the economy. It even started earlier with Industry 4.0. In Bulgaria, this means writing strategies and using more digital things, and in Italy, for example, this means an accelerated depreciation period", said the economist.

Regarding the OECD and the membership of our country, Assist. Prof. Karaivanov commented: “Joining the OECD is the most important mission of the country. This is more important than the introduction of the euro. Joining the OECD is not a matter of applying, it means that major reforms have been made in advance - both legal and economic. To have clear rules in business, which guarantees a normal business environment and which gives security to financial and strategic investors to invest resources in Bulgaria. Financial and strategic investors have quotas only for OECD member countries. If Bulgaria becomes a member of the organization, it implies the arrival of such investors. And in addition to money, they bring culture, management and train Bulgarians in the latest skills".
The whole comment on the topic of Ch. Assist. Vasil Karaivanov can be found here.