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Bulgaria - Third Programmatic Adjustment Loan Project (English)

The Third Programmatic Adjustment Loan (PAL 3) for Bulgaria continues the PAL Program support to the government's medium term program. It aims to achieve an average annual growth rates of 4.5-5.0 percent during 2002-05, reduce the poverty rate by half by 2005 compared to 2001, and reduce unemployment from 18.1 percent in 2001 to 12-14 percent in 2005, and make substantial progress towards European Union (EU) accession. The program consists of five complementary pillars: 1) privatization reforms and the restructuring of the energy, railway, telecommunications, and water sectors; 2) Establishing a market-friendly business environment; 3) improving the legal framework for lending, completing banking reform, and developing financial markets; 4) Improving public sector governance, strengthening public administration capacity and accountability, improving service delivery, reducing corruption, strengthening public expenditure management, and increasing the efficiency and effectiveness of the judicial system; and 5) Investing in human capital and strengthening social programs.

Details

  • Document Date

    2005/05/04

  • Document Type

    Program Document

  • Report Number

    30696

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Bulgaria,

  • Region

    Europe and Central Asia,

  • Disclosure Date

    2005/06/22

  • Disclosure Status

    Disclosed

  • Doc Name

    Bulgaria - Third Programmatic Adjustment Loan Project

  • Keywords

    private sector share;average per capita consumption;poverty and social impact;external current account deficit;incentive for school attendance;political economy of reform;legal and regulatory framework;equal access to education;real per capita consumption;active labor market program;alternative dispute resolution mechanism;Public Sector Governance;per capita income;large scale privatization;medium term program;electricity distribution company;private sector entry;district heating company;functioning market economy;improving service delivery;Ethnic Minorities;social security payment;exchange rate;Foreign Exchange Reserve;single parent household;primary school child;current account balance;accountability for results;difficult external environment;excise tax rates;import of goods;labor market policy;international poverty line;Public Expenditure Management;education and health;international interest rate;Electricity Sector Restructuring;senior civil servants;civil service pay;foreign exchange crisis;reduction in poverty;soft budget constraint;high inflation rate;expenditure management process;Exchange Rates;revenue from privatization;district heating tariff;international financial market;criteria for selection;tight fiscal policy;current account imbalance;absolute poverty line;privatization of electricity;extreme poverty line;state owned enterprise;public health programs;labor force participation;Voluntary Health Insurance;relative poverty line;rise in consumption;district heating sector;long term unemployment;prudent fiscal policy;primarily due;capacity building agenda;child in school;higher interest rate;risk and vulnerability;Performance Appraisal System;private sector employment;good quality education;bulgarian national bank;access for child;gross public debt;public sector job;investment climate;social assistance;pension reform;commercial dispute;business environment;unemployment rate;Financial Sector;legislative amendment;Energy Sector;rural area;contribution rate;Macroeconomic Policy;telecommunications sector;privatization program;living standard;municipal hospital;banking system;Tobacco Control;school feeding;hospital restructuring;public finance;inpatient care;economic recovery;benefit indexation;Fiscal Sustainability;credit growth;railway sector;banking sector;child allowance;commercial bank;disability pension;quality school;income policy;legal framework;Banking Supervision;business entry;Macroeconomic Stability;foreign investor;energy tariff;Income policies;border crossing;primary surplus;macroeconomic performance;urban household;asset declaration;Poverty measures;debt exchange;measurement error;econometric technique;household survey;poverty estimate;strategic advice;infrastructure reform;sector managers;adjustment loan;pillar program;tax burden;consultation mission;negative effect;essential needs;income payments;tourism sector;privatization deal;consumption level;poverty headcount;Poverty Measurement;relative price;reserve requirement;bank deposit;real credit;bank portfolio;bank profits;government deposit;enterprise account;fiscal deficit;international reserve;fiscal discipline;nominal anchor;private entrepreneur;high school;family size;high unemployment;total employment;university study;labor contract;gender neutral;large debt;household head;accelerating growth;financial sustainability;free textbook;energy intensity;public place;national health;tobacco product;immunization rate;administrative processes;freight charge;access charge;financial discipline;railway company;railway operation;Electricity Market;transmission activity;power trading;energy intensities;accountability arrangement;administrative procedure;career advancement;complete banking;judicial system;market rule;administrative court;school desegregation;school supply;fiduciary standard;public subsidy;residential energy;household consumers;energy price;minority share;generation companies;social program;working ratio;insolvency case;bankruptcy trustee

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Citation

Bulgaria - Third Programmatic Adjustment Loan Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/128401468006032407/Bulgaria-Third-Programmatic-Adjustment-Loan-Project