Bulgaria’s PM Boyko Borissov Met with EC Vice-President Valdis Dombrovskis

Bulgaria’s Prime Minister Boyko Borissov met with Valdis Dombrovskis, the European Commission Vice-President for the Euro, Social Dialogue and also in charge of Financial Stability, Financial Services and the Capital Markets Union, the government’s press office said on 2^nd of June.

Dombrovskis is on a visit in Bulgaria to participate in a conference presenting the country-specific recommendations within the European Semester 2017.

The EC Vice-President has presented to the Prime Minister the Commission's Reflection paper on the deepening of the economic and monetary union up until 2025. He pointed out that, similar to the White Paper, the document is not a plan but a basis for discussion between Member States.

"It presents different ideas designed to contribute to building a shared vision of the euro as well as specific steps towards its achievement," Dombrovskis said.

The topics discussed in the meeting included the progress made by the country in the financial sector, the labour market, social policies, education and health. The EC Vice-President noted Bulgaria's rigorous implementation of the Stability and Growth Pact, as well as the growth of the Bulgarian economy, which is above the average for the European Union.

In his words, the main challenge for the country's accession to the eurozone is the overcoming of macroeconomic imbalances.

Prime Minister Boyko Borissov has pointed out that resolving this problem remains among the government's key priorities. He also stressed that there was an improvement in the structural balance. As a result of the fiscal consolidation achieved, the level of public debt is stabilized at a low and sustainable level, far below the average for the euro area and the EU, Borissov highlighetd. He also pointed out that thanks to the good work of the revenue agencies and the resolute fight against smuggling, the budget surpluses are rising and according to the forecast for May, they will exceed 1.6 billion BGN.

Maintaining fiscal sustainability and maintaining a consistent, transparent and predictable tax policy will continue because it is a prerequisite for improving the business environment, encouraging investment and stimulating the labour market, which are the main priorities for the government, PM Boyko Borissov said.

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