22.06.2012

At its today's meeting ECOFIN formally closed the excessive deficit procedure for Bulgaria. Our country has also been removed from a list of countries facing the threat of sanctions after bringing its deficit to 2.1% of GDP in 2011.

The EU financial ministers also considered Draft Council Recommendations on the National Reform Programmes 2012 to each Member State and draft Council Opinions on the updated Stability or Convergence Programmes. A discussion on the Multiannual Financial Framework has also been included in the agenda of the meeting in Luxembourg. Bulgaria is of the opinion that cohesion policy is the key EU instrument for stimulating growth, employment and competitiveness. Among the topics discussed by ECOFIN was also the implementation of the Stability and Growth Pact.

The meeting discussed also the proposal for Energy Taxation Directive.