Finance Minister - Bulgaria Is Island of Economic Stability

by Sofia News Agency www.novinite.com

Bulgaria’s government will be ready with its new package of anti-crisis measures by next week, Finance Minister Simeon Djankov announced. A team of representatives of several of Bulgaria’s ministries is going to present the package at the beginning of next week, and will discuss them with the National Council for Tripartite Cooperation (i.e. representatives of the trade unions and the business sector). Answering a question by Georgi Pirinski, MP from the opposition Socialist Party, Djankov said the package will also be presented during the weekly meeting of the Cabinet on Wednesday, and after that in Parliament before the MPs. According to Pirinski, who chaired the Bulgarian Parliament in 2005-2009, Djankov’s measures will focus mostly on cutting government spending as much as possible, and this will be an act of panic, as his plan to increase state revenue failed. The Finance Minister told Parliament that this week Bulgaria registered its lowest level of foreign risk (i.e. CDS) since September 2008, and that this was the result of the policies of the Borisov government. Djankov also stressed the fact that Bulgaria is now meeting the inflation criteria for ERM II, the Eurozone waiting room, something which the previous two governments since 2001 failed to achieve. “Bulgaria’s economy is sailing in a rough sea but Bulgaria is an island of stability in the region, and will remain that way. We will not allow a crisis such as the one in Greece,” the Finance Minister declared. “There are forces that are still trying to push Bulgaria towards a higher budget deficit, which will slow down our economic recovery from the crisis,” he elaborated. Socialist MP Georgi Pirinski retorted that Djankov’s entire policy was leading to a boost of the gray sector. He insisted that Djankov should resign, and that he should take this decision on his own.

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