Deputy Economy Minister: Bulgaria Needs No Foreign Help

Business » FINANCE | May 18, 2009, Monday // 17:31
Bulgaria Bulgaria Minister: We Do not Need International Help: Deputy Economy Minister: Bulgaria Needs No Foreign Help

Currently, Bulgaria does not need international help to deal with the global financial crisis.

Bulgaria's Deputy Economy Minister, Yavor Kuiumdjiev, showed confidence in Bulgarian financial stability during a speech at the annual meeting of the European Bank for Restoration and Development in London.

The Bulgarian Government will not ask the International Monetary Fund (IMF) for help as Hungary and Romania have already done, the Minister said.

"If we have to, we will use the financial instruments foreseen by the rescue plan offered by the G20 meeting in London earlier in 2009. There are more flexible help instruments, although we do not need them now", Kuiumdjiev explained.

In his words, there is an economic and financial crisis in Bulgaria but it is not as severe as in other countries.

Minister Kuiumdjiev added that there was no devaluation of the BGN, and that the unemployment rate in the country is not that high.

 

 

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Tags: Yavor Kuiumdjiev, EBRD, Global Financial Crisis

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