Minister Vassilev: The task of the Ministry of Finance will be to support businesses, self-employed persons and citizens
“I would like to thank Mr. Ananiev that although the crisis continued after the first, most difficult, quarter of the year he managed, by means of expenditure restructuring, to preserve the support measures until the end of May. From now on, we must find out, within the approved budget, whether and how these measures can be extended and to what extent.” Caretaker Minister of Finance Assen Vassilev said the above during the formal transfer of the position by Minister of Finance (resigned) Kiril Ananiev. “The task of the Ministry of Finance in the next two months will be to provide resources for citizens, self-employed persons and businesses so that we can help both the economy and society to cope with the difficult economic situation caused by the pandemic”, he noted and added that in his work he would rely very much on the colleagues at the Ministry, as some of the best prepared professionals worked there.
“I am handing over the country in good financial position, with one of the most stable fiscal policies, with the lowest deficit and one of the three countries with the lowest debt-to-GDP ratio”, Kiril Ananiev said on his part. “Budget and revenues have been performing very well so far; at end-April the budget registered a surplus, with the amount of the fiscal reserve being BGN 8.8 billion. The country has a room to manoeuvre in terms of cash resources so as to meet the upcoming expenditures. By the end of the month, about EUR 511 million will be received under the SURE instrument for measures to address the pandemic”, he explained. Kiril Ananiev said that the Ministry of Finance had already taken the necessary steps with the relevant institutions to assist the caretaker government in preparing and approving the estimates for the elections on time.