30.03.2012

"Now Bulgaria with its high credit rating, its good fiscal indicators, is becoming attractive as potential issuer", Deputy Minister of Finance Boryana Pencheva said in an interview for CapitalDaily. Our country is in a very good position to go to international markets for the forthcoming bond issuance given the policy we are implementing, Pencheva added. She stated that the set of documents to launch a debt issuance procedure on the international financial markets was ready. The estimates show that the whole procedure would take between 6 and 10 weeks.

"We seek to issue debt not for the sake debt itself, but to guarantee liquidity in accordance with our objectives. Since the beginning of the year we have issued GS to the amount of around BGN 200 million per month and that shows that we are gradually implementing the planned issuance policy", responded the Deputy Minister of Finance to a question about the Ministry of Finance GS issuance policy on the domestic market.

In the interview Boryana Pencheva commented also the updated National Reform Program (2012-2020). "We have updated the macro framework before launching the new budget procedure. Growth estimates for this year are 1.4% and 2.5% for next year, which shows that we remain optimistic in the medium term", Pencheva said. According to her the 2012 budget cannot be affected because the expenditure side has been planned conservatively. Furthermore, better collection gives grounds for further optimism, the Deputy Finance Minister added.