Bulgaria among 25 Members under EU Deficit Procedure

EU Economic and Financial Affairs Commissioner Olli Rehn has announced stern budgeting measures in a bid to avoid Greek-style scenarios across the 27-member Union. Photo by EPA/BGNES.

Bulgaria and 24 other EU member-states are going to be put under EU's new excessive budget deficit procedure, announced Monday Amadeu Altafaj i Tardio, spokesperson for European Commissioner for Economic and Financial Affairs Olli Rehn.

Out of 27 member-states, only Estonia and Sweden will be left out of the procedure, so the move is not one directed against Bulgaria in particular, stressed Tardio.

Europe must be very careful with its finances, given the grave situation in Greece, said the EU-official.

Altafaj i Tardio confirmed on a planned regular Eurostat visit to Bulgaria in September, stressing on the importance of transparency of data. He added that the recent meeting between Olli Rehn and Bulgarian finance minister Simeon Djankov was fully satisfactory.

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