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IMF: Trade Deficit is Dangerous

Date: 17.09.2006

The International Monetary Fund (IMF) warns that trade deficit and deficit in the current account of Bulgaria and the emerging markets in Europe and Central Asia are dangerous, reads the Global Financial Stability report released during the Fund's meeting in Singapore. Bulgaria together with the Baltic states, Hungary, Kazakhstan, Romania, Slovakia and Turkey is one of the countries with the highest current account deficit.

The fact that lev is pegged to the euro will make it more difficult for the country to adapt to changes, sources from the Fund warned. According to experts, the risk of slow-down in the world economic growth has increased because of the high interests, high petrol prices and the "cooling" of the real estates market in the USA. This could be a severe blow to the financial markets.

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