14.10.2011

In the current tense situation in Europe Bulgaria is doing well with its reduced budget deficit, its debt and its public finance performance. This is the best argument that the country can provide in the discussions on the future of European solidarity, including in the areas of agriculture and cohesion policy. Budget and Financial Programming Commissioner Janusz Lewandowski told the media the above after a meeting with Deputy Prime Minister and Minister of Finance Simeon Djankov. In his opinion the reduction of the budget deficit was the most important sign that Bulgaria could send to Brussels and Europe as a whole.

EU funds absorption in Bulgaria is improving and the trend is positive, said Commissioner Lewandowski and added that most important was the objective economic forecast of Brussels for our country by 2020. This forecast is pretty good, so Bulgaria can in no way expect less resource than are provided in the current programming period. The amount of funds that each Member State will receive in the next period depends on the trust and Bulgaria does not have any problems in this respect, Lewandowski added.   

The European Commission considers very important the political commitment to sound and robust public finances, and that is what we do see in Bulgaria, pointed out the European Commissioner. Minister Simeon Djankov reminded that Bulgaria was one of the three EU countries that exited an excessive deficit procedure at the beginning of the year.

This year\'s budget execution is expected to be better than projected and the deficit to be lower than expected. According to the Finance Minister, that would contribute to greater fiscal consolidation and in 2012 the deficit would probably be planned at below 1.5% of GDP.