I see three directions of balanced economic growth in Bulgaria. First direction is related to sea and green economy development in the context of Green Deal in EU. The second one is oriented towards high tech technologies, nano technologies and service sector. As a third direction I consider modernization of agricultural production activities and agriculture development.

Achievement of these goals is difficult in the context of Bulgarian demographic crisis. In this sense economic development depends on high quality human capital development and formation. Therefore the balanced economic growth is a combination between investment in human resources development and economy modernization.

Also I consider balanced economic growth of the country as an entity of territorial and regional economies development. In this case the key determinants of the balanced economic growth are transport and communication infrastructure, and

balanced distribution of population and economic activities. This factors will creates terms for connectivity and regions' competitiveness.

Dr Nikolay Tsonkov thank you for your contribution to the discussion

A balanced growth path is a central element of macroeconomics. It refers to equilibrium in which major aggregates, usually but not exclusively output and the capital stock grow at the same rate over time, and the real interest rate is constant. Economic growth as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP). If growth is based on consumer spending and falling saving rates, this will tend to cause imports to rise faster than exports. If saving and investment rates are stable, then the economic growth is more likely to be balanced and avoid the imbalance of large current account deficits and surplus. An economic growth rate is the percentage change in the value of all of the goods and services produced in a nation during a specific period of time, as compared to an earlier period. Economic growth increases state capacity and the supply of public goods. When economies grow, states can tax that revenue and gain the capacity and resources needed to provide the public goods and services that their citizens need, like healthcare, education, social protection and basic public services. Sustainable development has as its goal the improvement of the negative effects of environmental pollution having in regard the need to satisfy present generation needs while ensuring the liveliness of the environmental factors for future generations. Sustainable development aims at promoting the kind of development that minimizes environmental problems and meets the needs of the present generation without compromising the ability of the future generation to meet their own needs. It is essential to protect the environment as it is safe for humans and crops and safe for plants and animals. According to some researchers, the importance of environmental protection is to help preserve the species diversity that shares the planet for nature and people's benefits. It recognizes the interdependence between economic growth, social well-being, and environmental protection. Sustainable development recognizes that economic, social, and environmental considerations are interconnected and must be balanced to achieve long-term well-being. Sustainable development practices help to protect natural resources. The economy relies heavily on trade, much of which depends on natural resources to produce goods or provide services. This includes water, waste, energy and food.