site.btaGovernment Seeks "Lowest Possible Deficit" Through New Measures

Deputy Prime Minister and Finance Minister Galab Donev told the National Assembly on Friday that the government's goal is to achieve the lowest possible government deficit through the measures it plans to propose. During the rest of the year, regardless of the measures introduced, "it is impossible to achieve miracles in terms of consolidating public spending", Donev said during question time.

"Our aim will be for the deficit to be around 3%, while the calculations will show by how much, if at all, it exceeds that level," he said.

Donev went on to comment: "The fact that the government is currently running a record deficit does not mean that it should halt all projects. That would be the worst thing it could do and the worst message it could send to businesses and to those with an investment interest in Bulgaria. The situation of an excessive deficit can also be improved through higher foreign direct investment, something that had declined in previous years. However, we are now seeing renewed interest from investors in Bulgaria, and this is one of the factors contributing to an improvement in the country's fiscal position."