29.05.2013

For me the leading principle is to maintain fiscal stability and the stability of the Currency Board. We will not allow any liberties or loosening because the Ministry of Finance has always been and will be the most important ministry in the State. Therefore, the institutional capacity strengthening and building is our most important and immediate task, Minister of Finance Petar Chobanov said at a briefing after taking over the post from the Caretaker Government Minister Kalin Hristov. According to Chobanov the budget must show the policies implemented by a government. The Finance Minister specified that initially he would try to work within the current budget while making an analysis of the priorities. Petar Chobanov thanked his predecessor Kalin Hristov and stated that they would continue to work together at national and European level.

Within the short period of our work we reduced the budget deficit to BGN 286 million for the first 4 month, Kalin Hristov stated on his part. He quoted data that the fiscal reserve had already reached BGN 5.5 billion, while the non-refunded VAT as of the end of the month was BGN 295 million. "Mr Chobanov and I know each other for years. I congratulate him and I am convinced that he will continue the policy of macroeconomic financial stability and will be capable of building in the necessary Government Programme", Hristov added.