“If we have to issue new Bulgarian euro bonds, that will take place in the second half of the year. It is very probable though that such issue won’t be necessary since now the basic macroeconomic indicators are better than it was expected,“ deputy finance minister Katev told Dnevnik Daily.

On January 15, Dow Jones made public opinions of London City analysts that Bulgaria might issue euro bonds for EUR 150 M during the first quarter of 2002. According to deputy finance minister Katev, the GDP growth for next year will be over the expected 4,5% and will reach 5% the least.

“It is not necessary to borrow, when unnecessary, funds from the international markets, “ Katev commented. He explained that a new euro bond issue would have been necessary only in case that the global economy tendencies get considerably worse.

In that case, according to Katev, postponing the euro bonds issue would be highly unfavorable. “If in any case we need to borrow funds to finance the deficit, we will borrow funds from the Bulgarian market,” Katev added. The internal financial market is still a lot of years behind the European and we will work on changing that state, Katev also said.

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