Bulgaria's centre-right GERB party, which swept to a crushing victory over the Socialist-led ruling coalition last summer with a shade under 40% of the votes and 116 of 240 seats in parliament, has announced plans for a second term and full majority.

“GERB should win the next elections and have full majority in parliament, “ Finance Minister and Deputy Prime Minister Simeon Djankov said at the second regular party congress in Sofia on Sunday. “Only then Bulgaria will reach the living standards of Central Europe,” he added.

“We should succeed because Bulgaria expects that. Bulgaria needs us and GERB is Bulgaria's hope,” Djankov stressed.

In his words Bulgaria is in a better state and has the most stable financial policy among EU member states.

The new cabinet has patched up Bulgaria's leaky budget by cutting spending by 15% and has moved to crack down on smuggling and tax evasion to boost revenues. It has also dismissed hundreds of customs officers and taxmen in efforts to uproot official corruption.

The country plans to apply in March to join the exchange-rate mechanism, the two-year currency stability test prior to euro adoption, and seek to switch to the common currency in 2013.

The new government is optimistic that Bulgaria’s economy will recover after shrinking 4.9% in the second quarter as investment and demand waned.

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