New Bulgarian PM: No Upped State Spending in View for 2013

Bulgaria's state budget for 2013 is not capable of sustaining significantly increased state spending, according to recently appointed PM Plamen Oresharski.

"The budget's performance does not inspire optimism that we will be able to take up additional spending," said Oresharski Sunday for the Bulgarian National Radio.

"We will identify the most narrow factors that impede economic activity, such as administrative services, and we will strenghten social support programsa bit," added the new Bulgarian PM.

Oresharski has a broad experience as senior administrator in the state finance sector, including one term as Deputy Finance Minister, 1997-2001, and one term as Finance Minister, 2005-9.

He dismissed any option for sovereign borrowing to increase salaries in the public sector and pension.

"This is only a very temporary measure that achieves nothing in the long run," stressed Oresharski.

The Bulgarian PM vowed to invest the best efforts of his cabinet in attempts to boost the economy, which he said is the only stable way of boosting the personal incomes of citizens.

He described the official 14% level of unemployment as "negatively impressive," and vowed to work for the creation of new jobs.

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