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ECOFIN GIVES POSITIVE EVALUATION OF BULGARIA'S FISCAL POLICIES

Fri, May 19 2006 09:30 CET 470 Views

The Council of Economics and Finance Ministers of the European Union (ECOFIN) gave a positive evaluation of the Cabinet's fiscal policies.

National policies aimed at achieving macroeconomic stability through the continuation of structural reforms, Finance Minister Plamen Oresharski said.

On May 5 Oresharski took part in the ECOFIN meeting, examining Bulgaria's accession programme for the period from 2005 to 2008. Yesterday Oresharski presented the result of the summit to Cabinet members.

Finance ministries of EU member states approve Bulgaria's long-term economic policies aimed at getting the country ready for EU membership.

The Cabinet tries to limit the trade deficit through the tightening of fiscal policies and limit on credit expansion.

In the public finance spheres, ECOFIN gave good evaluation of budget surplus measures. Bulgaria aims at a three per cent budget surplus for 2006 and a balanced budget in the years after, Oresharski said.

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