12.11.2011

Pensions may be increased by a budget deficit growth or by increasing the retirement age. This comment was made by Deputy Minister of Finance Vladislav Goranov in The Factor Koshlukov on TV7. Increasing the retirement age must happen at one point or another, and that is the case for all EU Member States because the situation so requires, he said. Those Member States which will be able to this faster will remain more stable, he said and added that the adoption of debt- and deficit reduction plans was already a condition for stability of governments in Europe.

As to the pension benefits of those employed in the security system, Deputy Minister Goranov assured that the \"shoulder strap\" officers would preserve their rights, but those employed under labour employment contracts would fall within the amendments discussed towards reduction in the benefits paid for early retirement. Vladislav Goranov said that the early retirement age would be increased by two years as from next year as well.

In recent years BDZ has not taken account of the transformed structure of the economy. The company needs a huge reform, including the layoff of staff and discontinuation of the ineffective trains, but not closing lines, the Deputy Finance Minister also commented. According to him, despite the state subsidy, BDZ generated enormous losses for neither the Ministry of Transport, nor the municipalities themselves had analyzed the cost-effectiveness of transport schemes for years on end.