The EC recommended today the lifting of the excessive deficit procedure against Bulgaria. Our country and Germany will be removed from a list of countries facing the threat of sanctions after they brought their deficits under the EU limit of 3% of GDP.
The EC stated that the excessive deficit procedure against Bulgaria could be lifted because Bulgaria reduced its deficit to 2,1% in 2011.
Source: http://ec.europa.eu/europe2020/pdf/nd/edp2012_bulgaria_en.pdf