Deputy Prime Minister Daniela Bobeva has vowed that the program of the socialist-led coalition government will meet the expectations of Bulgarian businesses.

Bobeva spoke Tuesday at the 8th annual business-government meeting organized by the Confederation of Employers and Industrialists in Bulgaria (CEIBG) and Capital weekly.

She claimed that the Bulgarian economy had been developing in the right direction over the past few years, regardless of the fact that a number of Cabinets had implemented different types of economic reforms.

Bobeva, as cited by dnevnik.bg, emphasized that the government of Prime Minister Plamen Oresharski had retained fiscal stability and low tax rates.

"We did not pay a single lev of public money for our banking system, we have no reasons to be pessimists for the financial and economic stability, but it is not to be taken for granted. Retaining financial and economic stability amid external and internal risk, this is a true achievement," Bulgaria's Deputy Prime Minister said.

She claimed that the decrease in investment was the biggest problem at the current stage.

Bobeva informed that the government expected 22 major investment projects worth BGN 1.7 B and the creation of some 7000 jobs, adding that even if only a small part of the program was implemented, it would contribute to economic growth.

She explained that the government did not expect domestic demand to increase, nor a substantial increase in salaries and incomes of the population, but relied on export to spur economic growth.

Bobeva announced that the third package of measures aimed at cutting red tape would be published on Tuesday, adding that the major portion of the procedures concerned the sphere of construction.

She announced that a number of laws, including the one on companies with state participation, the Competition Protection Act and the Underground Natural Resources Act, were to be amended.

Bulgaria's Deputy Prime Minister made clear that the strategy for administrative reform had already been published, while the strategy for tourism was still being discussed.

She opposed the drafting of strategies, adding that some 211 strategies were already available but they did not seem to attract any interest.

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