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Austria Chancellor - Bulgaria is on Right Path

by Sofia News Agency www.novinite.com

Bulgaria's economic development is very good because it is the result of a consistent fiscal policy lead by the Bulgarian Cabinet, according to Austria's Federal Chancellor Alfred Gusenbauer, who is on an official visit to Bulgaria on Friday. Gusenbauer has been invited to visit the country by the Bulgarian Prime Minister Sergey Stanishev. During their meeting both State leaders discussed business partnership between Austria and Bulgaria, Bulgaria's European Union (EU) membership and the effects of the global financial crisis. Stanishev pointed out that Austria ranked first in Bulgaria as foreign investor by the volume of its investments and added that this trend would continue in the future. Austrian companies have invested over EUR 3,5 M in the country so far. Stanishev said that Bulgaria has been very stable, but it was not isolated from other European countries, which were already experiencing the financial crisis and this would have an effect on the country's economy growth. The Austrian chancellor stated that Bulgaria has been making good progress as a EU member and the economy was developing well, adding that the budget surplus policy has been a very successful move on the part of the Bulgarian Cabinet and one of the main reasons for Bulgaria's stability in the light of the global financial crisis. Gusenbauer further concluded that he was convinced that Bulgaria was on the right path and this would be reflected in the next European Commission report.

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