EconMin: Bulgaria Will Beat All in EU in Dealing with Crisis

Bulgaria's Economy and Energy Minister, Traicho Traikov, says the country's economy must focus on sectors that could bring larger revenues and added value. Photo by BGNES

If one takes a look at economic growth forecasts for 2012, which will be an extremely difficult year, one will realize that Bulgaria will be the first one in the EU to successfully deal with the economic and financial crisis.

The statement was made Monday by Bulgaria's Economy and Energy Minister, Traicho Traikov, speaking for the Bulgarian National Television, BNT.

The Minister said that the cabinet's 2010 and 2009 policy of extreme caution when it comes to the State budget now turns being the right one over the fact that countries, which failed to adhere to such policies, are currently having very serious problems.

"I think we acted with extreme reason, thus we will continue the same way next year. For Bulgaria it is crucial that industries, particularly those which are export-oriented, work less with materials supplied by the client, and invest more capital and more in intellectual potential," Traikov said.

According to the Minister, a significant change in the structure of Bulgarian economy is a must under the frame of the EU operational program "Competitiveness," which focuses on sectors that could bring larger revenues and added value, and don't face losses.

He explained that more added value means more shareholders' investment resources and more funds for wages for workers and employees.

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