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"If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire." - George Monbiot
No matter how cynical the above statement by the great George Monbiot may sound, it is unfortunately the cruel truth. And that is, the western societies, with Bulgaria not being an exception, have managed to bring up their budgets and financial flows to a level that allows their citizens to have a decent life, to put it conservatively. The rest of the world unfortunately, is struggling to cope with the financial challenges and the implementation of the western democratic values is in many cases still in its infancy.
The EU in particular, with its common financial policies, the support of the European Central Bank and the other European institutions, takes care for the sustainable economic growth in all member states. For example, there is a an ongoing discussions that should lead to the adoption of unconditional guaranteed minimum wage for all EU citizens (something absolutely unseen in any other countries), an EU-wide protection of bank deposits has been already implemented, etc.
Bulgaria has one of the most robust economies within the EU. The extremely low external debt of the country, combined with below the average budget deficit, makes the Bulgarian economy a forerunner in Europe. Not surprisingly, the main credit rating agencies gave another boost to the trustworthiness of the country’s economy. Namely, Standard & Poor’s increased its rating to BBB- in December 2017, while the other major credit agency Fitch, increased its assessment to BBB.
The credit ratings of Bulgaria are extremely important recognition for its economy, as the assigned grades are considered to be of an ‘investment grade’ quality, meaning that many institutional investors will be gradually and steadily increasing their investment positions in Bulgaria.
The stable credit ratings by the international agencies are also a very important assurance for the participants in the Bulgarian fast-track Citizenship Program. By investing in Bulgarian bonds for example, the citizenship candidates can be certain that their investment is not only safe, but can be also used as collateral with virtually any financial institution worldwide in order to raise additional capital.