Bulgarian New Finance Minister: First Task Is to Cut Expenditure

The new Finance Minister was explicit that at this moment Bulgaria does not need to sign an agreement with the International Monetary Fund. On picture - Simeon Djankov (L), and Plamen Oresharski. Photo by BGNES

Bulgaria's new Finance Minister, Simeon Djankov, said Monday that the first task of his Ministry would be to cut the state's expenditures by BGN 1,5-2 B.

Djankov announced this Monday during the ceremony of transition of power from his predecessor, Plamen Oresharski, Darik Radio reported.

Through reducing the expenses, the government aims to reach a balanced budget, and even hopes for a little surplus, Djankov explained. The only expenses that will not be reduced will be these for education, he added.

In Djankov's words, the fast return of Value Added Tax (VAT) to businesses will be his second priority.

The new Finance Minister was explicit that at this moment Bulgaria does not need to sign an agreement with the International Monetary Fund.

In the next few months, Djankov will have only two deputies, and he will be responsible for the budget incomes. Later during the mandate, a third Deputy Minister will be appointed. The Financial Minister's team will be announced until the end of this week.

 

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