Bulgaria's new Finance Minister has expressed confidence that next year's budget, described as a model of excellence for EU member states, safeguards the country's currency board regime and points to its exit from the global crisis.

“All members of parliament know that this budget bill is the best and fastest way for Bulgaria to deal with the economic crisis in 2010. This is the reason why its adoption did not come with much debate,” Minister Simeon Djankov told journalists on Tuesday after parliament passed at first reading the budget draft for next year.

He pointed out that the targeted balanced 2010 budget is also an important ingredient for garnishing the country's application for joining the exchange-rate mechanism, the two-year currency stability test prior to euro adoption, and seeking to switch to the common currency in 2013.

“The vast majority with which the budget was adopted means a huge success for the government, the opposition just had nothing to say.” Djankov added.

“Obviously we have managed to explain why this is the only possible budget for Bulgaria at the moment.”

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