Bulgarian EU Nominee Urges Active Govt Policy Incentives

Domestic | January 23, 2010, Saturday // 16:03|  views

Kristalina Georgieva, Bulgaria's new EC Commissioner-Designate and World Bank Vice President, comments on possible governmental incentive policies to combat the global crisis and its effects on Bulgaria. Photo by BGNES

Bulgaria's new EC Commissioner-Designate has said that the government should be more active in its measures to tackle the crisis by defining policy incentives.

Kristalina Georgieva, speaking on Saturday on Darik Radio, said that it would, however, be difficult for the Bulgarian government to develop an emergency anti-crisis plan, as demanded by the opposition and the Blue Coalition.

It would not be beneficial to move in that direction, because there was a need to preserve macro-economic stability, she explained.

"There are two important points - the first is that we are very dependent on external factors and less dependent on what we do inside the country. So, the more the economy is strengthened in the Eurozone, and with other conditions of equality, the better it is with us," said Georgieva.

"I have said this before, and I will repeat it - we are six to nine months behind everyone else, and we have to just observe what they are doing and try to adapt it to our conditions.

"What people everywhere say is that this crisis has very serious implications for unemployment, and this means that we should seek measures to help us create more jobs," she stated.

"In this context," she continued, "I would say it is good to look for points of impact, which could help our domestic labor market. There is nothing new to say that people in Bulgaria do not know," she commented.

"Because we have a currency board, we do not have so many tools available, so those we have we should use as actively as possible," said the World Bank Vice President.

Georgieva also stated that she would not be surprised if the future Deputy Prime Minister without portfolio, Ilian Mihov, continued with the tripartite group that advises Prime Minister Boyko Borisov on economic issues, but with replacement members. She noted that, at the moment, the trio consisted of Ilian Mihov, Lyubomir Hristov and herself.

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Tags: Kristalina Georgieva, currency board, policy incentives, global crisis, Ilian Mihov, Lyubomir Hristov, Boyko Borisov

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