The NSI is assured of technical independence under the Law on Statistics . The Agency for Economic Analysis and Forecasting, a semi-independent institution, carries out much of the macroeconomic analysis and forecasting. Its projections are open for external review, but there are no formalized arrangements to carry out such reviews. B. IMF Staff Commentary 14. Over the past few years, the Bulgarian authorities have taken significant steps to improve fiscal transparency.
Many reforms are already firmly established within the fiscal management framework.
A number of additional measures are under implementation or being planned. These reforms have broad implications across the public sector and the whole economy, but there is currently limited knowledge and understanding of the reforms among many who will be influenced by them. The reforms could be presented in the context of a comprehensive strategic vision, outlining the long-term results of the reforms and their impact on the government, the private sector, and the public. The relative roles of the government and the private sector in the longer term could be elaborated and clarified, especially the government's strategy toward state-owned enterprises in the energy and other infrastructure areas. The establishment of a modern internal audit function in the context of the new Treasury system would make financial management more efficient and transparent.