18.12.2013

\"Fiscal policy has shifted its focus from consolidation measures to economy-galvanizing measures. Conducting anti-cyclical fiscal policy is a continuation of the trend initiated with the 2013 budget revision\". This is what Minister of Finance Petar Chobanov said at the meeting of the Club of Economic Diplomats held today at the Centre for Economic Development. Minister Chobanov presented the key 2014 budget parameters and next year\'s economic outlook to the Club members. Mr. Chobanov highlighted that the purpose of the 2014 budget would be to restart the economy and accelerate growth: \"The budget will be used as an effective tool to bring the economy back to the track of sustainable growth, promotion of investment and employment and ensuring social protection for the vulnerable groups of society\".

The Finance Minister also noted that targeted measures and mechanisms were planned to influence several key policies in accordance with the national priorities of the Government\'s programme. He mentioned first the Growth and Sustainable Development of the Regions Public Investment Programme to the amount of BGN 500 million aimed at bridging the budget structure gap. Minister Chobanov also emphasized that the education policies were another key priority for 2014, i.e. a new mechanism was planned to finance further the system of education by BGN 100 million with the aim to improve the effectiveness of education and binding it with the labour market. He added that a number of social policy measures were planned to support several target groups - children and family, disadvantaged people, elderly people and households and businesses. \"A key factor for policy implementation will be the optimal absorption of EU funds used to finance programmes in sectors having direct effect on growth, employment, income, competitiveness and public infrastructure\", said Minister Chobanov. He also made the economic diplomats familiar with the amendments to tax legislation for next year aimed at reducing the administrative burden, improving revenue collection, fighting smuggling, urging employment and investment, encouraging energy efficiency and environmental protection.

The Club of Economic Diplomats was established in 2002 upon the initiative of Mrs. Pirita Sorsa, Resident IMF Representative to Bulgaria at that time, Ms. Ola Svenningsson, Economic Advisor with the Embassy of Sweden, and Mr. Georgi Prohaski, Co-Chair of the Centre for Economic Development, and includes the commercial attaches of foreign embassies.