Economic Update - Bulgaria: Slow Growth Amid a Changing Growth Model
There is a growing consensus that the major European economies will continue to stage a recovery in 2014, which will help smaller countries bounce back. The Bulgarian government has approved a budget for 2014 that envisages GDP growth of 1.8%. This number is above the 0.5% y-o-y reported for 9m13 and 0.8% seen in 3Q13, but is still relatively unimpressive for a country with relatively low GDP per capita (around $7,000 in 2012). Moreover, achieving this level of growth is not a foregone conclusion, as it will depend on the economic situation in Germany and Bulgaria's other major trade partners, particularly as the government expects growth to be driven by exports and improvements in the tourism sector
The article is a scientific and practical commentary of Chapter 4 of the Budget Code (Russia), which describes the concept of budget classification, its structure. Author characterizes the classification of budget revenues and expenditures, sources of financing the budget deficit, as well as state governance operations segment.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.