14.02.2013

"Bulgarian GDP growth for the fourth quarter of 2012 is 0.5%, while it is expected to be about 1% for the whole year. This ranks us fifth in terms of economic growth behind Estonia, Poland, Latvia and Lithuania". This is what Deputy Prime Minister and Minister of Finance Simeon Djankov said for Cross Information Agency. He said that this was good news for us but it was embarrassing for the six biggest economies which registered an economic slowdown for the first time since 2009 and this led to the extremely negative overall result for the EU. With the exception of Germany, this trend is expected to continue this year as well, which would inevitably influence Bulgarian economy because these states are our key commercial partners within the Union, explained Minister Djankov.

Asked about the burning issue of high electricity bills, Mr. Djankov shared his view that Bulgaria was far behind with energy efficiency. There are some projects being implemented under the Kozloduy Fund which work mostly with municipal buildings and achieve enviable energy efficiency with relatively small investment. The Bulgarian Development Bank also has an energy efficiency line of credit, he explained.

The Public Financial Inspection has launched an inspection and may be able to help the new management of the State Energy and Water Regulatory Commission review if some of the energy mix producers have long-term contracts, said the Deputy Prime Minister. According to him, if this is the case, they could be excluded from the mix, which would result in a drop in the electricity price. Mr. Djankov considers that the Public Financial Inspection Agency and the Prosecutor's Office should check who and when included them in this mix. The Minister also thinks that the lack of long-term contracts would mean an irregularity and ill will on behalf of the former management of the State Energy and Water Regulatory Commission for this has undoubtedly led to a significant increase in the average electricity price. "The new management and the Inspectorate of the State Energy and Water Regulatory Commission should give priority to the inspection of all contracts and those which are not long-term should be amended eventually", concluded Minister Djankov.