06.11.2013

The Government's priority is to restart and achieve a more balanced growth model in the country. This is what Minister of Finance Petar Chobanov said during the introductory meeting with the regular IMF Article IV mission headed by Ms. Michele Shannon. Mr. Chobanov added that this was the purpose of the Growth and Sustainable Development of the Regions Public Investment Programme to the amount of BGN 500 million planned in the 2014 budget. The Minister of Finance also said that this programme would address regional disparities across the country and Deputy Minister of Finance Mrs. Lyudmila Elkova added that the funds would be targeted at projects prepared by the individual institutions and municipalities.

Minister Chobanov specified that additional BGN 100 million would be allocated to the field of education to strengthen the link between schools and universities and the business country-wise. The other measures focus on a reduction of the administrative burden of businesses and citizens, with two packages already having been submitted to the Council of Ministers. Another priority of the economic restart, according to Mr. Chobanov, are the amendments to the Public Procurement Law and to the anti-monopolistic legislation.

The regular IMF mission, which will take place in the period 6-15 November, will discuss the major short-term and long-term macroeconomic forecasts, the economic growth policies, the economic recovery drivers and the underlying principles and policies laid down in the draft state budget for next year. During their visit, the IMF experts will be having meetings with the Minister of Finance Petar Chobanov, with the Deputy Ministers of Finance Mrs. Lyudmila Petkova and Mrs. Lyudmila Elkova, with Ministry of Finance experts and with other representatives of the Government and of the Bulgarian National Bank.