15.03.2012

"Bulgaria's strengths are the low tax burden, trade, the stable public finances and the banking system", Deputy Prime Minister and Minister of Finance Simeon Djankov stressed. He participated in the presentation of the most recent World Bank's report "Golden Growth: Restoring the Lustre of the European Economic Model" and analysed before the audience the advantages and disadvantages of Bulgaria' current economic and social position.

Among the weaknesses Minister Djankov pointed out the deteriorated in the last decade quality of higher education, the lack of reforms in the energy sector and the insufficient flexibility of government resources management. According to him the demographic picture is a major challenge not only for Bulgaria, but throughout Europe as the pension and health systems are maintained by less and less people and the population is progressively aging. He thinks that the negative population growth in Bulgaria could be resolved by returning back to Bulgaria workforce or through migration, as a condition therefor would be a faster economic growth.

As one of Bulgaria's strengths the Deputy Prime Minister pointed out the transport infrastructure which until recently was one of our weaknesses adversely affecting the investment environment and now was developing quickly. As another strength the Minister mentioned that the implementation of the e-government would accelerate economic growth and he forecasted fast development of agriculture.