23.01.2012

The accession of Bulgaria to the International Agreement on a Reinforced Economic Union will not cost our country a lev, Deputy Prime Minister and Minister of Finance Simeon Djankov stated in an interview for Republika newspaper. We have already expressed our opinion that we are not to give the IMF any money, and that opinion has been accepted. The procedure continues without Bulgaria and several other states. Our decision is not to support the European Financial Stability Fund that is mandatory only for the eurozone countries. The decision has been already taken and we will not have any financial obligations to these mechanisms neither this year, or any other year, the Minister of Finance stated before the newspaper. He reminded that Bulgaria would not accept the idea for harmonizing the tax base in any form - neither in that Agreement, or the Euro+ Pact.

Simeon Djankov reminded the high appreciation expressed by the other EU Member States and the EC for Bulgaria's financial discipline. According to him this basis is in place and we may already think about economic incentives and social policy.

"The way to support the businesses is not by tax reliefs, but by an e-government, more professional and helpful administrators and less red tape", the Financial Minister commented. Compared to the EU average of 43% of GDP tax revenues, Bulgaria collects 27.1%. This is far below the EU average in terms of tax collection and the money remains with the businesses, the Minister added.