Finance Minister Nominee: Bulgaria Has to Cut BGN 2,5 B Expenses

Business » FINANCE | July 21, 2009, Tuesday // 09:52
Bulgaria: Finance Minister Nominee: Bulgaria Has to Cut BGN 2,5 B Expenses Bulgaria's new Finance Minister Djankov has set the goal of a 0,5% budget surplus at the end of 2009. Photo by ikonomika.org

The future Finance Minister in the GERB cabinet, Simeon Djankov, believes that Bulgaria needs to reduce its state expenditures by BGN 2,5 B as part of the modification of the state budget.

In an interview for the 24 Chasa Daily, Djakov reveals that he had been meeting regularly with the outgoing Finance Minister Oresharski over the last 10 days in order to ease the transfer of power in the Ministry.

Djankov, a former senior economist at the World Bank, declared that the aim of his new measures would be ending the year with a minimum budget surplus of 0,5%, and to gradually switch from cutting the expenditures to increasing the state revenue.

On Monday, the outgoing Finance Minister Oresharski announced that Bulgaria concluded the first half of 2009 with a surplus of BGN 173 M on the consolidated state budget, down from BGN 675 M in January 2009.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Simeon Djankov, finance minister, budget, surplus, deficit, Plamen Oresharski

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria