Abstract

The development of an overall vision for making an adequate macroeconomic policy in perspective involves the localisation of possible sources of economic tension, as well as the relevant fields of tension in the context of the specific macroeconomic objectives. An attempt has been made to outline basic types of potential tensions in the Bulgarian economy in the mid-term perspective and to formulate recommended versions of macroeconomic policy. The analytical study is targeted at defending strategic principles of behaviour of the macroeconomic policy in contract to the construction of tactical practices for achieving given short-term objectives. The whole analysis and recommendations are in the spirit of the liberal economic doctrine and especially the understanding that the main macroeconomic policy instruments are (unpretending any hierarchic order) in the field of budgetary and monetary impacts and the development of a well-functioning institutional environment.