Economy Expert: Budget Revision Is Bulgaria New Government First Task

Business » FINANCE | July 8, 2009, Wednesday // 20:42
Bulgaria Economy Expert: Budget Revision Is Bulgaria New Government First Task: Economy Expert: Budget Revision Is Bulgaria New Government First Task In Ganev's words, this must be done carefully and with priority, in a way that the social spendings are not affected.

The first task of the new Bulgarian government, and the Finance Minister will be to revise the 2009 budget in order to deal with the global financial crisis.

Petar Ganev, from the Institute for Market Economics, explained that the the revision had to begin with cuts in spendings. He spoke Wednesday in an interview for Darik Radio.

In his words, this must be done carefully and with priority, in a way that the social spendings are not affected.

"The most obvious expenses, which can be easily reduced, and which take a bit part of the budget, are the large investment project of the old government. It is one thing to build highways, which are supported by all the political parties, and it is completely different to poor money in big energy projects, and in state companies, and priority projects like golf courses. These are things that are not that important. Social expenses like pensions, health, and education do not have to be cut. They can be preserved", Ganev said.

 

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Tags: Global Financial Crisis, budget

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