Brussels: Bulgaria Has Stable Finances

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Brussels: Bulgaria Has Stable Finances

Thursday, Feb 19, 2009

Bulgaria pursues a correct fiscal policy, but it will be better to reduce the budget expenditures, part of the EC report reads.

Brussels inspected Bulgaria and other 16 EU member states as regards the application of their rescue plans in times of financial crisis and check out if the states meet the requirements for financial stability within the EU.

According to the assessment of the EC, Bulgaria's fiscal policy is correctly directed to overcoming the macro-economic imbalance".

Bulgaria has fulfilled the requirement on the budget deficit and the budget strategy of the cabinet till 2011 is also aimed at keeping a budget surplus of 3% of the GDP. Apart from that, Bulgaria's fiscal policy is oriented at winning back the trust of investors.

Source: Standart newspaper

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