20.09.2013

Key element of the Government's policy and a main challenge to sustainable economic growth in Bulgaria is the aging population and the related thereto social and economic consequences, Minister of Finance Petar Chobanov stated at the held today public presentation of the World Bank report "Mitigating the economic impact of an aging population: Options for Bulgaria" under the joint project between the MoF and the Bank "Bulgaria Golden Growth".

In his welcoming address Minister Chobanov thanked all the participants in the project and stated that the conclusions and the recommendations in the report would be considered during the discussion on strengthening the Bulgarian pension model.

In its management programme the Government has made a clear commitment to expand the measures on the labour market with focus on enhancing the work force skills with the aim to attain subsequent sustainable employment. At the same time an intense debate is on-going also on the pension reform, Minister Chobanov added.

The implementation of convincing policies to improve the quality of education and to better link it with the labour market will be reflected in the 2014 budget, Minister Chobanov stated. Good quality education is among the Government's priorities and is in line with the proposals in the World Bank.

Work on the further improvement of the process on the targeted policies in the labour market, which can have significant contribution to employment promotion, is continuing in a strengthened dialogue with the social and economic partners. The development and implementation of reforms is a dynamic process that requires time and social consent for most of them, the Minister of Finance said in conclusion.