The Finance Ministry would try to reduce taxes for businesses because of the competition Bulgarian companies were exposed to, Finance Minister Plamen Oresharski said.

Because of these competitive forces, companies in Bulgaria needed significant resource to survive, Oresharski said.

In the past week the Finance Ministry also discussed the availability of resources for higher pensions, Darik Radio reported. Additional resources could be produced through fund saving and restructuring of social expenditure, Oresharski said.

The Finance Ministry hoped to stay within the budget framework prognoses for this year, Oresharski said. One positive development was the zero inflation for March, after the relatively high levels for the first months of the year, said he.

Inflation levels were expected to remain low during the summer months to compensate for the initial increase, said Oresharski. Inflation became higher in the beginning of the year because of the increased excise duties on alcohol and tobacco products.