Bulgaria's Government Working to Restart Economy

Bulgaria's Finance Minister Petar Chobanov (L) and Bulgarian National Bank Governor Ivan Iskrov (R). Photo by minfin.bg

Bulgaria's Govt is working to restart the economy and to reduce administrative burden to business and citizens, says Bulgarian FinMin at IMF and WB annual meetings in Washington.

Bulgarian Government's current priorities are preparation of 2014 budget  and introduction of measures to solve most pressing social problems, said Finance Minister Petar Chobanov at meetings with International Monetary Fund (IMF) Dutch Constituency Group of countries Executive Director, Meno Snel and  World Bank (WB) Dutch Office Executive Director, Frank Heemskerk.

Bulgarian public finances  will continue to operate under a currency board regime, in order to preserve Bulgaria's fiscal discipline, announced Chobanov at his meetings with IMF and WB officials.

Bulgaria's  macroeconomic indicators looks really good and the country could benefit from its macroeconomic stability in terms of attracting more foreign investment, said Reza Mogadam, Director of the European Department at (IMF) during a meeting with Bulgaria's FinMin.

Improving Bulgaria's competitiveness and increasing confidence in public institutions are measures of of crucial importance, declared Minister Chobanov.

Bulgarian Finance Minister Petar Chobanov participates in Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Washington on October 11 – 13.

Bulgarian National Bank Governor and Governor for Bulgaria in the IMF, Ivan Iskrov and BNB Deputy Governor Tsvetan Gunev accompany Chobanov as members of the Bulgarian delegation.