22.03.2012

\"Ten European states have similar Silver Funds and for all of them there is a legitimate possibility to invest in their relevant government securities\", Deputy Prime Minister and Minister of Finance Simeon Djankov stated in the BNT Denyat Zapochva (The Day Starts) Program. The average arithmetic mean for investment in GS for all European states having such funds is 70% and this is the value provided for in the proposed by us legislation, the Minister clarified. He stated that in the name of political and public consensus he would table amendments to the bill so that by the end of 2012 30% of the assets of the Fund to be invested in GS and that percentage to increase over the next 6 years.

During his interview Minister Djankov presented the issuance of Euro Bonds as a possibility for repayment of part of the government debt. According to him it would be most appropriate for such financial operation to take place by July, for the purpose of which the Government should give a mandate. He pointed out that a favorable prerequisite therefor was the solution of the situation with Greece, the easing of international markets and the lowering of interest rates. Another possibility for financing the maturing at the beginning of next year debt would be to issue short-term GS on the domestic market, the Finance Minister added.