Commission determines which Member States need in-depth analysis based on ten key economic indicators, including the amount of public funds and debt, less competitive, the macroeconomic situation and the dynamics of its development, labor cost, tax and social guarantees.
This is the start of a new procedure andmacroeconomic imbalances, which will exacerbate the economic policy dialogue with national governments. If necessary, Brussels will make recommendations to the specific Member State to take corrective action or to prevent a deepening of imbalances.
According to the first report on the alert mechanism for macroeconomic imbalances situation must be thoroughly analyzed in Belgium, Bulgaria, Britain, Denmark, Italy, Spain, Cyprus, Slovenia, Finland, Hungary, France and Sweden.
To consider not offered Greece, Ireland, Portugal and Romania, as these countries benefit from financial assistance under the EU programs and the International Monetary Fund, while the remaining 11 Member States currently do not require a serious analysis, explained the commission .
As a basis to include Bulgaria in Brussels list gives "very rapid accumulation of external and internal imbalances, but the country is currently undergoing rapid and significant adjustments. Since levels of accumulated imbalances are still high, the prospect of future regulation require careful monitoring" .
Ministry of Finance explained that Bulgaria crosses thresholds of three indicators of external and one internal imbalances - current account balance as a percentage of GDP, net international investment position as a percentage of GDP, nominal unit labor costs and debt of the private sector as a percentage of GDP.
The procedure for macroeconomic imbalances is part of the so-called 'Package of six' - six laws which should contribute to more transparency and discipline in public finances in the Member States.