Abstract

This fundamental and very important for our country economic topic is the subject of the monograph by Assoc. Prof. Dimitar Zlatinov1 from the Department of Economics of the Faculty of Economics of Sofia University "St. Kliment Ohridski and the International Economics Section of the Institute of Economic Studies at the Bulgarian Academy of Sciences. The aim of the author is "to trace the channels of macroeconomic impact of fiscal and monetary policy in Bulgaria in the short and long term, taking into account the stages of cyclical development of the country in the post-2000 period" (pp. 7-8). The main scientific thesis that is defended is that despite the fiscal rules imposed by EU membership and the Monetary Council in place since 1997, the country "has pursued a discretionary and countercyclical fiscal policy. However, it is characterised by low effectiveness and efficiency and cannot have a real impact on accelerating catching-up economic development" (p. 8). The chosen research method is modelling macroeconomic dependencies and effects of fiscal and monetary policy on actual and potential GDP.