Bulgaria's FinMin Claims 2010 State Budget Very Successful

Bulgaria's Finance Minister Simeon Djankov has stated that the 2010 State Budget Revision Act has reached its goals and have been very successful. Photo by BGNES

The 2010 Bulgarian state budget has been assessed as very successful by the Finance Minister Simeon Djankov during a Parliamentary discussion concerning the medium-term fiscal framework.

The minister has stated that in the project for 2011 state budget, the government is trying to avoid increasing of the deficit and keeping it below 2,7% of the GDP. He added that the preliminary reports for 2011-20133 also envision a budget deficit below 3% of the GDP.

“The 2010 State Budget Revision Act has achieved our two main goals. We did not raise the taxes and we did not make cuts in the pensions and salaries. Many countries did not achieve this, including even EU member states. So this is a very big success for us,” Djankov said, adding that another goal of the cabinet for this mandate is to reach a balanced budget.

He also said that the proceeds to the State Fund for insurance of sustainability of the state pension system for the first half of 2010 have amounted to BGN 58,3 M, BGN 57,2 M out of which has been transferred from the central budget and BGN 1,1 M has been the accrued interest on deposits.

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