24.03.2013

"From 2008 till the end of February, the level of VAT non-refunded to companies is the lowest one since 2008 and there is no policy to delay refunding at the moment", Minister of Finance Kalin Hristov said in the BNR Nedelya 150 Programme answering a question whether the state pays the businesses in a timely manner.

Next week it will become clear what will be the amount of the budget resources redirected in support of the socially most vulnerable groups of the population. It is already clear that the money will come from the expenditure provided for maintenance and investment. The opinion of Minister Hristov is that investments should not be cut mechanically because this does not always have a positive effect and that the effects should be first analysed before taking any concrete actions. In respect of the optimization of maintenance expenditure Kalin Hristov stated that the sum would be very carefully determined so that the cuts would not result in destabilization of the relevant sector work.

At the end of March the Ministry of Finance will publish the data on the implementation of the budget for February. Minister Hristov announced that the deficit was around BGN 730 million, and specified that the amount was not to raise any concerns. He assured that the deficit target of BGN 1,100 billion was attainable.

"There are no dramatic developments in respect of the State Budget Law implementation. It can be implemented the way it has been provided for", Hristov emphasized. The Finance Minister again specified that the fiscal reserve amounted to BGN 4 billion and that it even could be expected its level to exceed the provided for one of BGN 4,5 billion. The political talking about the fiscal reserve aims at creating risk in the economy and is groundless. No money from the funds is being spent, the Minister of Finance added.

Kalin Hristov commented on the possibility to allocate additionally financial resources for organizing the elections abroad. He said that he had not seen so far any specific argument therefor, but if there was need, from the already approved by the Council of Ministers budget for the elections of BGN 22 million money could be allocated so as Bulgarians abroad to be able to vote without any problems.