Former Bulgarian Finance Ministers: Budget Needs Swift Revision
Bulgarian recovery and sustainability plan is inadequate, but must be submitted to the EU in time, warned Simeon Djankov and Milen Velchev, former financial ministers.
Bulgaria's is among EU's three least indebted nations, according to the former Bulgarian Finance Minister and current MP, Milen Velchev.
At a public lecture on the global financial crisis in the southeast city of Burgas Thursday, Velchev pointed out Bulgaria's public debt was only about 15% of its GDP.
Bulgaria's Finance Minister in 2001-2005 also stressed that the country was doing better than many other states in the present crisis thanks to its prudent fiscal policy of maintaining a budget surplus in the recent years.
At present, Velchev is an MP from the centrist National Movement for Stability and Progress, the party led by Bulgaria's former Tsar, Simeon Saxe-Coburg, and is the Deputy Chair of the Parliamentary Budget Committee.
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