Bulgaria's Economy Minister: No GDP Growth without Reforms

Business | October 12, 2010, Tuesday // 09:23
Bulgaria: Bulgaria's Economy Minister: No GDP Growth without Reforms Bulgaria's Economy Minister Traicho Traikov has explained that the economic growth of 3,6% that the 2011 state budget envisions might not happen unless reforms in the health system were made. Photo by BGNES

Bulgaria's economic growth by 3,6% might not happen if instead of improving the investment climate, we do the opposite, said Economy Minister Traicho Traikov.

His statement comes a day after he officially opposed the move of his own cabinet to up social security payments by two percentage points.

"Even if these two percentage points are not a lot, the would eat the expected economic growth. And if the economy does not grow, we would not have money for social initiatives," Traikov said for the Bulgarian National Television.

He added that the increase of the social security payments would not be of any help to the health system.

"If we increase the social security payments without starting any reforms in the health system, in six months we would have to face the same problem. The system does not have a stimulus to reform itself," he said.

In his words, one professional body should not demand something at the expense of everyone else.

"It is absurd how for 20 years Bulgarians became more sick, while the health services increased eight times. This absurd has to be solved," he said.

Traikov has stated that decisions should not be taken under pressure from doctors and trade unions. He pointed out that the cabinet also works under pressure from employees and people who do not want to pay more.

As a good practice of the cabinet he noted the fact that suggestions were made public and decisions were taken after all points of view have been reviewed.

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

Business » Be a reporter: Write and send your article
Tags: Traicho Traikov, reforms, health system, social security payment
Expats.bg All Are Welcome! Join Now!
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