29.01.2021
“Bulgaria boasted major impressive economic growth prior to the outbreak of the pandemic and I can see that the Economic Assessment of Bulgaria recognizes that.” This was stated by Prime Minister Boyko Borissov at the official presentation of the Economic Assessment of Bulgaria prepared by the Organization for Economic Cooperation and Development (OECD).
The Prime Minister pointed out that Bulgaria had achieved a lot in the sectors of the economy, in the IT sector, the automotive clusters, enterprises, the reform in agriculture, in the food industry, among other. Prime Minister Borissov noted that over the years the Bulgarian market had switched over from the market of the ex-Soviet Union to exports to France, Italy, Germany and other European countries. “The outcome is that for over ten years, without interruption, we have had budget surpluses. Owing to the sound fiscal policy today Bulgaria has the lowest external debt in Europe and a budget with up to three percent deficit that the Maastricht criteria allow,” Prime Minister Borissov said.
In his statement, the Prime Minister emphasized that the fight against corruption and smuggling had equally contributed to the good financial figures. “Sociological surveys have shown that cigarette smuggling had gone down from 34% to 2%. The same holds good of spirits, gambling and confectionary, the result being the generation of millions of revenue to be collected by the national budget,” Bulgaria’s Prime Minister recalled. Mr. Borissov added that the Government had met the commitments made to the Bulgarian citizens and within its term in office had doubled the salaries of the schoolteachers and of the university teaching staff, along with the huge inputs into the education infrastructure which is an investment in the future of Bulgaria. During the pandemic, the salaries of the frontline fighters in the fight against COVID-19 – medical doctors, nurses, social workers, police officers and others – were increased, too. Accordingly, assistance was provided to the most vulnerable groups of the population. “We don’t do that in the time of the pandemic only; we support all citizens in need while we continue the implementation of major infrastructure projects,” Mr. Borissov stressed.
A historic day for Bulgaria was its entry into the EU banking union and the ERM II last year, Prime Minister Boyko Borissov said in his statement at the OECD forum.
Bulgaria’s Prime Minister stressed that the country is carrying out reforms in each one sector but the pandemic impedes the effort. Mr. Borissov added that with adequate and timely measures that, as it is, are the most liberal measures in Europe, Bulgaria achieved very good results in the fight against COVID-19. That is why as of today Bulgaria is the EU country with the lowest incidence of the disease.
“Despite the new virus, Bulgaria’s economy, agriculture, construction, mechanical engineering, IT sector, schools, kindergartens and nurseries are performing,” Prime Minister Borissov said.
“I thank you for your positive assessment of Bulgaria. We read the recommendations very carefully; we comply with them and will do our utmost to translate them into reality as soon as possible,” the Bulgarian Prime Minister said firmly.
“I applaud Bulgaria for its fruitful and continuously deepening engagement with the OECD; you are among our most active partners,” said OECD Secretary-General Ángel Gurria at the online conference. “The report illustrates the excellent collaboration between Bulgaria and the OECD,” Mr. Gurria added. In his VTC address, the OECD Secretary-General focused on Bulgaria’s key achievements, in particular in the economy, and on the challenges that Bulgaria continuously seeks to address. Mr. Gurria drew attention to the pandemic that hit not just Bulgaria but the whole world.
“The economic consequences of this shock are significant, but the country’s strong fiscal position has enabled a bold response and the Government’s wage subsidy scheme has prevented many from falling into unemployment,” the OECD Secretary-General noted. Mr. Gurria expressed confidence that as the rate of vaccination increases, the economy will start to recover. “I very much look forward to continuing making progress together through the design, development and implementation of better policies for better lives in Bulgaria,” Ángel Gurria said further.
In conclusion, the OECD Secretary-General assured that what is possible would be done to reach a consensus within the OECD Council on Bulgaria’s accession to the OECD.
