Prime Minister Reports BGN 8 M Surplus by Day 100

Prime Minister Reports BGN 8 M Surplus by Day 100
: If my father was still alive, he would have told me Im a juggins

After cutting down BGN 15 million and promising not to up taxes, CEDBs government asked banks to lower interest rates. In result of increased incomes, additional revenues of BGN 55 million have entered the state budget in October

Bulgaria News | 03.11.2009 18:00

If my father was still alive, he would have told me Im a juggins to take over the state with such a minority and with this liability in the harshest financial crisis, Prime Minister Boyko Borissov said at the traditional meeting between business and the government on the 100th day of the new rule. He pointed out that by October the state budget has come to the plus with BGN 8 million after the cabinet cut down state spending and increased revenues. The latter deserves admiration for sure, especially given the fact the government of Citizens for European Development of Bulgaria (CEDB) took over the country with a deficit of over BGN 560 million in June and melted it down to BGN 73.6 million in September. But how would the cabinet manage to make taxpayers fill the treasury while trying to survive in the crisis, and how will it stop contraband it still not quite clear even after its first 100 days in power, although it was namely at the meeting with business that the first results of the tax and customs administrations reforms were announced. The budget surplus for October is mainly due to revenues increased by BGN 55 million and expenses cut by over BGN 25 million as compared to September, Minister of Finance Simeon Dyankov explained. This is also in result of more than 150 successful operations of mobile inspection groups held in the last month. According to Deputy Prime Minister and Minister of Finance Dyankov, the balancing of the state budget is a clear signal to the business, the European Commission (EC), and the International Monetary Fund (IMF) that Bulgaria is following the safest fiscal policy in the entire EU. This is especially important for the currency board stability and Bulgarias quick entering the euro zone.

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