04.02.2013

"Fiscal policy balance means to be healthy today so as to avoid bankruptcy tomorrow. Bulgarian economy is too fragile because of the five or six years of crisis in Europe". This is what Deputy Prime Minister and Minister of Finance Simeon Djnkov said in an interview for TV7. It became clear that BGN 1 billion was the amount that kept the country off bankruptcy and should it be spent, this would result in a bankruptcy which had already happened five times in Bulgarian history. For yet another time he defended his view against the pre-election spending of money and said that this was the easiest and the most populist way of winning voters, which would, however, result in bankruptcy. He noted that in Germany and in the USA there were offices calculating the cost of the promises made by political leaders, and added that this would be made in our country as well.

The Deputy Prime Minister acknowledged that some of the reforms initiated by the ruling party were not carried out and that they could only be finalized during a second term of office. He gave the healthcare sector and the national security system as an example. "Successful reforms require political continuity", said Mr. Djankov. Asked what would made him resign from his position, Minister Djankov said that the biggest failure for any minister of finance would be the non-performance of the budget. He assured, however, that there was no chance for this should he remain finance minister for a second term of office.

The Minister of Finance admitted that the former Finance Minister of Poland Leszek Balcerowicz, known as the "father of shock therapy", was his idol and "hero".
According to Mr. Simeon Djankov, the economic transition in Bulgaria, unlike all the other Eastern European countries except Romania, had not started yet. Our political change did not take place as easily as in the other states, he added.