US Ambassador Backs Bulgaria Govt Austerity Package

US ambassador to Bulgaria, James Warlick, released a statement in support of the cost saving measures of the GERB ruling party. Photo by BGNES

American ambassador to Bulgaria, James Warlick, expressed his approval for the anti-crisis measures that the Bulgarian government rounded up Wednesday.

According to ambassador Warlick, the proposed austerity package gives a clear vision for the future of Bulgaria.

The US ambassador said in his statement to the Bulgarian media that he is envouraged by the government’s will to reform Bulgaria’s health system, the Pension Fund, the education as well as some other key spheres.

„Implementing serious reforms and structural changes has never been easy,” declared Warlick in his statement and added that such reforms are especially needed during a time of a financial crisis.

Accoriding to Warlick, the anti-crisis measures that the Bulgarian Prime Minister Boyko Borisov announced Wednesday, offer a clear vision for Bulgaria’s future.

Warlick expressed hope that the Cabinet will successfully implement the reforms and thus secure Bulgaria’s economic prosperity.

Bulgaria's PM Boyko Borisov confirmed Wednesday that his center-right GERB government will not increase Value Added Tax (V.A.T) from the current 20%.

He added that an updated 2010 budget will provide additional funding for health care, tobacco growers, transport and general infrastructure projects and that no taxes will be raised in 2010.

PM Borisov informed that the cost saving measures would add an extra BGN 900 M to treasury by the end of 2010, with an extra BGN 500 M expected to be gained from tobacco, alcohol and iron taxes and crack downs on illegal sales.

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