PM Borisov: EU Leaders Look Up to Bulgaria

Bulgarian PM Borisov (middle) with Regional Devt Minister Pavlova (left) and Burgas Mayor Nikolov (right) opened the new Road Junction "South". Photo by BGNES

All EU leaders mentioned Bulgaria as a good example of state finances during the latest European Council Summit in Brussels, Bulgarian Prime Minister Boyko Borisov announced.

Borisov spoke in the Black Sea city of Burgas Friday night, just hours after arriving back from Brussels where he took part in the EU summit meeting that produced an agreement to support directly struggling banks without adding to government debt.

"Everybody pointed to Bulgaria as an example - because in 2.5 years, a Southern country, a former communist country managed to cover its budget deficit, to bring it below 2% of the GDP, to keep its public debt low, to have an inflation rate that meets the Maastricht Criteria, to start growing, and to absorb many times more EU funds than before," Borisov told reporters in Burgas where he opened a newly-built road junction, as cited by Radio Focus - Burgas.

The Bulgarian PM further added that on Saturday he will be visiting the construction site of the Bulgaria-Romania Dabube Bridge 2 together with EU Commissioner Johannes Hahn, and on Sunday the two of them together will open Lot 2 of the Trakiya Highway between Stara Zagora and Nova Zagora, as well as a rehabilitated railway section.

"We will launch a highway road, and a rail highway at the same time. And all that in a time of severe financial crisis in the entire world," Borisov declared.

Going back to the EU summit in Brussels, he stressed that Europe needs fiscal discipline more than anything else at present.

"This means meeting all of the Maastricht Criteria - on debt, deficit, inflation. There are various recommendations for each member state such as having the European Central Bank exert control over the banks since we are all aware that the crisis came from the large banks. It was a very hard decision to allocate EUR 120 B to Italy and Spain so that they can capitalize their major banks. A very hard one," the Bulgarian PM added.

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