02.07.2014

"When a person sees where exactly public funds go and when he understands that they have been spent effectively and for creating a better environment for the people that is the best that can happen", Minister of Finance Petar Chobanov commented at the opening of the renovated neighbourhood Zapad of Pazardzhik municipality under a project financed by the Government's Public Investment Programme "Growth and Sustainable Development of the Regions". The construction works under project "Improvement and renovation of the urban environment on the territory of Pazardzhik municipality with scope Zapad housing area" have been finalised with public funds.

Minister Chobanov added "in contrast with past years when public funds have been allocated to 4-5 of the larger towns, now the Government has thought also about the rest of the towns and about smaller settlements, because the aim of the Programme is every person to feel the benefit from it and to have a better living environment". He reminded that the plans were to provide for a similar investment programme in the next budget and expressed his hope that the next government would continue with it.

Commenting before journalists on topical issues Chobanov again stressed that "in a situation of joint actions of the institutions, through coordinated, timely and fast interaction with the EC, the possibility has been approved for our country to spend resources to support the banks, if necessary". According to the Finance Minister that has reassured the people that their money in the banks is protected. "Today we have information that people have started to come back to the affected bank and again to deposit their money in it. The attacked bank has managed to address the situation with its own resources, it has not used any public resources because it has very good liquidity and has been very well prepared even for such a situation", Minister Chobanov announced.

The State has buffers, financial reserve, to which any other bank experiencing difficulties can always turn for help, Chobanov explained. According to him "we need composure now, dispassionate thinking and people not to succumb to panic and ill-intentioned rumours; the banks are stable and will remain stable".

Concerning the topical issue of the state of the NHIF Minister Chobanov stated "this year we had covered payments that we acquired last year because of the not well planned budget of the Fund". At the moment disciplining measures are being taken so as the Fund to be able through effective spending of its resources to cover its expenditure. After the publication of the data for the first half of the year, the data on revenue and expenditure will be seen and then a decision will be made whether the NHIF budget is to be revised, Chobanov was adamant. He stated that this year the health insurance revenues were rising compared to last year with double figure pace and there would be over-performance that would go into the Fund's budget. The Minister believes that "things will get normal and the forecasts that in September the Fund will have no money will not come true". 

"The argumentations for bankruptcy of the State continue to be pushed on the forefront but they are not consistent with the actual situation. Now we need composure and it is high time to stop frightening the people", the Finance Minister stated on the occasion of the publicly and ungrounded critical talking about the state of the budget. Chobanov again stressed that "some days before we have placed on the international markets the most successful ever in Bulgarian history issue. It has such indicators that have been never achieved so far and if the international markets trust us and that means that we are fundamentally stable". Minister Chobanov's position is that at this stage we should not turn for help to international institutions, we are capable to cope by ourselves.