The Fiscal Policy of Bulgaria In The Process of Integration to The European Union
The fiscal policy of Bulgaria has undergone important changes in the last two decades under the process of accession to the EU. The macroeconomic aspects of Bulgaria's participation in the EU in the field of fiscal policy coordination are analyzed as results achieved. The fiscal policy has contributed for the compliance with the Maastricht criteria for convergence with the EU as well as for implementing the reforms of the EU economic governance in the post-crisis period. The maintenance of fiscal stability has been undertaken in medium–term but challenges have been encountered to carry out fiscal adjustment without undermining economic recovery and maintain funded by Government expenses public systems. The fiscal policy performance of Bulgaria is revealed with regard to problems of improving its socio-economic efficiency and preparation to join the EMU.