PM: With the new roadmap for recovery of Europe, we want to inspire optimism

Speaking at a briefing after the European Council Meeting on April 23, Bulgaria’s Prime Minister Boyko Borissov said that only if we are united, Europe could emerge from the crisis.

He recalled the increasing claims by medical experts that Europe was only at the beginning of the epidemic.

Boyko Borissov, Prime Minister: We want to give people optimism that this nightmare will end and one day it will be a bad memory, but medically this is not supported by anyone.

With the new Roadmap for the Recovery of Europe, we want to inspire optimism, stressed Borissov. According to him, it should be clear after the date X, month X, not to say the year X, when the crisis has passed, where the economy has reached.

Boyko Borissov Prime Minister: Now GDP has fallen by 7.5%, there are already millions of unemployed in the EU, and the crisis has come asymmetrically for the countries.

Economies in Europe are interconnected, so all should act together to overcome the crisis, the PM said. The main dispute in Europe now was whether to provide grants or loans. Weak economies are seeking grants and countries with stable economies are proposing loans to those in need.

Boyko Borissov Prime Minister: The richer countries suggest, if other countries ask for grants, to make the tax rates same as theirs. In Bulgaria, the tax rate is 10% and in Germany the tax rate is 40%.

There are models between grants and loans to agree, he added. The next meeting, on 6 May, will look for a solution to the allocation of EUR 540 billion for the crisis. Borissov has insisted on more money for studies and research on medicines to treat coronavirus and vaccines.

Boyko Borissov Prime Minister: Today, I heard a proposal to open small hotels and restaurants (in Bulgaria). If we open them then we may have to look for medical staff instead of cooks and waiters, because it may become necessary to turn them into hospitals.

He said he was considering the opening of parks and gardens and added that on Sunday there would be a training exercise to explore how it would happen. But he expressed concern that the medical staff would not be able to absorb the consequences.

The Prime Minister also commented on the topic of Bulgaria’s bid to join the Eurozone.The work that was supposed to be completed for 3 months, was done for a week and “we hope to join ERM 2 in July, at the same time as Croatia”, he said.

Boyko Borissov, Prime Minister: We have an answer from the ECB that we have fulfilled everything that was required. As a sign of confidence in Bulgaria, a 2 billion euro swap line was set up last night. The swap line will remain in place until the end of 2020, unless it is extended.

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