FISCAL COUNCIL: Insufficient economic growth, large deficit and high unemployment rate among major problems

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Certain improvements were made in that regard in 2015, the Fiscal Council noted and assessed that there was a risk of positive trends stopping after 2015, that is, fiscal deficit in the medium term may remain at a level above 3.5% of GDP, economic growth may drop below 2%, while the unemployment rate could stagnate or even go up.

- Therefore, the Government has a big responsibility, in the fiscal domain, to not allow premature easing of restrictiveness or give up difficult and unpopular measures, as well as to put bigger efforts into the improvement of investment environment for the sake of increasing the economic growth and, consequently, the employment rate - reads the Fiscal Council`s report "Economic Recovery, Employment and Fiscal Consolidation: Lessons from 2015 and Outlook for 2016 and 2017".