02.07.2012

The Stability and Growth Pact outlines the key fields of action, i.e. setting of national employment and growth policies in unison with fiscal growth-supporting consolidation. That is how Deputy Minister of Finance Boryana Pencheva commented for the National Bulgarian Radio the European Council that ended on Friday. She added that all current administrative expenditure would be limited but investments would be made in growth-generating sectors, such as infrastructure.

\"What happened today is that we started taking more about growth. This growth and employment pact is a very important policy paper. It also envisages that financial resources of EUR 120 billion be mobilized for growth and employment\", said Mrs. Pencheva. \"Among the priorities are youth employment, SME promotion, easier access to financing for SMEs. The Council conclusions include a text about the importance of the cohesion policy\", added Boryana Pencheva.