Bulgarian PM Expects Economic Revival, Political Division

Political division will remain strong in Bulgaria, but the country is on the way to economic recovery in 2014, argues Bulgarian PM Plamen Oresharski.

In an interview for the Bulgarian Standart daily, Oresharski argued that a number of policies implemented by his cabinet after coming to power end of May have set the country on the road towards regaining growth.

At the same time, he argued that as economic systems have a high level of intertia, no sudden and drastic changes are to be expected, and recovery will be gradual.

As the most significant achievements of his cabinet in the fiscal and economic area, Oresharski singled out the resumption of timely payments of arrears and VAT to businesses, without at the same time impairing state revenue.

"I expect the deficit on the consolidated 2013 budget to remain within the legal limit of 2%," said Bulgaria's PM.

"My message to businesses is to invest, given a careful assessment of the degree of recovery of local and external markets," said Oresharski.

The Bulgarian PM explained he expects that Bulgaria's growth will be export driven, and that the government is working towards furthering that, in particular by opening trade offices in countries outside the EU.

At the same time, Oresharski observed that the political climate in Bulgaria remains divisive and volatile, something he confessed can negatively affect the perception of investors.

"I expect opposition parties to continue their aggressive campaign against the government, but I don't think that the majority of Bulgarians support those orchestrated destructive processes," said the PM.

At the same time, Oresharski expressed hopes that economic recovery would pave the way to a normalization of the political climate.

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