site.btaUPDATED OECD Secretary-General Praises Bulgaria’s Progress Towards Membership
Bulgaria’s progress towards membership in the Organisation for Economic Co-operation and Development (OECD) has been very good in recent months. The productive engagement of the government over the past 12 months towards the country’s accession to the Organisation is highly valued, said Mathias Cormann, Secretary-General of the OECD, on Thursday during a press conference in the Granite Hall of the Council of Ministers in Sofia. At the press conference, he presented the OECD’s economic report on Bulgaria and a review of the path the country has taken towards membership.
Cormann hopes that the accession process will be brought to a successful conclusion by the end of 2026.
According to him, OECD membership is expected to transform the country. He described it as a transformative journey, laying the foundations for stronger growth, job creation, higher incomes and improved living standards.
Despite frequent changes of government over the past four years, Bulgaria has made steady progress in this process and achieved cross-party support, which is a very important part of this journey, Cormann said, adding that this is highly valued.
The report which the OECD chief presented contains measures intended to support Bulgaria on the path to the prosperity he outlined.
“In recent years, Bulgaria has steadily narrowed income disparities compared with OECD countries. The reforms adopted as part of the country’s accession process to the OECD will allow for further progress by strengthening competition and supporting the fight against corruption,” Cormann said.
“Public debt is low, but prudent fiscal policy is now needed to preserve long-term fiscal sustainability and help bring down elevated inflation. Raising business productivity – in particular by reducing barriers to market entry – and improving the school system should be key structural policy priorities,” he added.
Cormann described Bulgaria’s accession to the euro area as an important milestone on the path to OECD membership, which is expected to boost investment, economic growth and employment.
Among the participants at the meeting were members of Bulgaria's outgoing cabinet, including Prime Minister Rosen Zhelyazkov, Finance Minister Temenuzhka Petkova and Foreign Minister Georg Georgiev.
/RY/
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