Bulgaria's Finance Minister, Simeon Djankov, forecasts a 6% economic growth for the last quarter of 2011. In an interview for the Bulgarian daily 'Trud', Djankov says Bulgaria encountered the financial crisis later than most European countries and, therefore, is set for a more positive recovery.
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The Minister points out Bulgaria is now in its third, consecutive strong quarter in 2011, while the fourth one would be the strongest where growth will certainly reach 6% with 8% being possible. Djankov admits that such growth had not happened in Bulgaria even before the crisis, but bases his forecast on new economic policies and the lowest taxes in Europe.
"We still need some reforms. Our goal is not only to catch up with those that are immediately ahead of us such as Romania and Latvia, but to aim higher at average European income. This could be achieved during two terms in office," he says.
When asked to assess the work of the cabinet of the ruling Citizens for European Development of Bulgaria (GERB) party, Djankov gave high praise to Regional Minister, Rosen Plevneliev, Environment Minister, Nona Karadzhova, Economy and Energy Minister, Traicho Traikov, and the newly appointed Transport Minister, Ivaylo Moskovski, adding that in its modern history Bulgaria has never had such a strong economic team. He went on, however, to criticise Agriculture Minister, Miroslav Naydenov, saying that he should work more and talk less - and to point out the need for reform in the security sector.
The Minister explained that the average expenses for security in Europe are 2% of GDP, while in Bulgaria they are 4.2%, adding that the 2.2% difference should be redirected towards education, science, culture and farming, over the next three years. Djankov says he is already holding talks with Interior Minister, Tsvetan Tsvetanov, on plans for this reallocation of funds.
The Minister also assessed the work of the National Revenue Agency, NRA, as 'improving' over the past few months, pointing out he wants to make sure that this becomes a permanent trend.
"We still need some reforms. Our goal is not only to catch up with those that are immediately ahead of us such as Romania and Latvia, but to aim higher at average European income. This could be achieved during two terms in office," he says.
When asked to assess the work of the cabinet of the ruling Citizens for European Development of Bulgaria (GERB) party, Djankov gave high praise to Regional Minister, Rosen Plevneliev, Environment Minister, Nona Karadzhova, Economy and Energy Minister, Traicho Traikov, and the newly appointed Transport Minister, Ivaylo Moskovski, adding that in its modern history Bulgaria has never had such a strong economic team. He went on, however, to criticise Agriculture Minister, Miroslav Naydenov, saying that he should work more and talk less - and to point out the need for reform in the security sector.
The Minister explained that the average expenses for security in Europe are 2% of GDP, while in Bulgaria they are 4.2%, adding that the 2.2% difference should be redirected towards education, science, culture and farming, over the next three years. Djankov says he is already holding talks with Interior Minister, Tsvetan Tsvetanov, on plans for this reallocation of funds.
The Minister also assessed the work of the National Revenue Agency, NRA, as 'improving' over the past few months, pointing out he wants to make sure that this becomes a permanent trend.
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