Bulgarian FinMin Embarks on New US Tour

Bulgarian Finance Minister, Simeon Djankov, delivered a lecture before Harvard University students and professors during his previous US visit. Photo by finmin.bg

Bulgaria's Finance Minister Simeon Djankov has launched a new 4-day visit to the US, his Ministry has announced.

While in New York, Djankov will hold a lecture at the Columbia University entitled "Financial stability and constitutional amendments".  The lecture will focus on his brainchild - the initiative for a "Financial Stability Pact", a set of proposed amendments to the Bulgarian Constitution designed to guarantee strict conservative fiscal policies.

The three main pillars of Djankov's Financial Stability Pact to be solidified via Constitutional amendments are introducing a limit to allowed budget deficit, restricting the ability of the state to redistribute public funds as a percentage of the GDP, and introducing a qualified majority vote of two-thirds of the votes in Parliament to change Bulgaria's direct taxes.

 The measures termed "Financial Stability Pact" were first announced by Djankov on February 8 at a lecture at the New Bulgarian University in Sofia following the US tradition in which crucial policy speeches are delivered at academic institutions. During his previous visit to the US,which took place between February 27 and March 6, the Bulgarian Finance Minister presented the measures also at the Harvard University.

During his visit, Djankov will attend and speak at the Wharton School of the University of Pennsylvania's two-day conference April 7-8, 2011 entitled, "Global Risk: New Perspectives and Opportunities." He will also meet Bulgarian expats in New York, San Diego, Los Angeles and Philadelphia.

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