The International Monetary Fund (IMF) and the Bulgarian Cabinet have not reached an agreement yet concerning the GDP percentage to be allocated to the national fiscal reserve. Today IMF mission head for Bulgaria Hans Flickenschield met the head of the financial parliamentary committee Petar Dimitrov. The IMF demands three per cent of the GDP to go to the fiscal reserve. Dimitrov said the IMF also requires income increase and decreased national expenditure. The requirement will lead to problems for the national budget system, Dimitrov said.
A number of the new proposed measures are not related to the high current account deficit, one of the main IMF worries related to the Bulgarian economy, the Bulgarian National Radio reported. Dimitrov said that bank credit policies and additional regulations over credit activity have not been discussed during the meeting. There is no reason to believe Bulgaria will not manage to keep its agreement with the IMF and enter the EU on time, Dimitrov said.