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Bulgarian FinMin Rejects Idea of Budget 2011 Update
Date: 31/08/2011
Bulgarian FinMin Rejects Idea of Budget 2011 Update

The State budget will not in any way need to be updated, Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, declared Wednesday.

In an interview for the Bulgarian National Radio, BNR, Djankov said there is enough money in the budget and this is not the right moment to make updates at the time when most of the finances of European countries are shacking.

The Minister's comments came on the heels of reports that during the regular meeting of the cabinet last week, Prime Minister, Boyko Borisov, had asked for a budget update by BGN 25 M so that the State can fulfill its obligations in the construction of the so-called "Water Mirror" project in the southern city of Kardzhali.

The shorthand notes from the meeting showed that Djankov had initially supported the request, but the Finance Ministry's press center issued a statement later that there would be no need of an update after all.

"We will pay money owed to construction companies in the Kardzhali project by savings in the 2011 budget and the rest from the 2012 budget. There would definitely be no update," the Finance Minister assured.

Meanwhile, the speaker of the Parliament, Tsetska Tsacheva, indirectly backed the other Deputy PM and Interior Minister, Tsvetan Tsvetanov, in his dispute with Djankov regarding funds for the Security sector. The Finance Minister recently said the State must redirect part of the budget of the Interior Ministry and of the State Agency for National Security (DANS) to education and science research, prompting Tsvetanov to declare this was not a decision Djankov can make.

The two stated, however, there were no controversy and fighting between them, but this had been just the matter of different opinions.

"Funds from one sector should not be used to deprive another one. This is the skill, the essence of team work in any government. Yes, definitely more funding for education, healthcare, science, social activities, but through balance, not to the expense of the Security, Defense, and Justice System sectors. This can be achieved by continuing reforms in all these sectors," Tsacheva said Wednesday in an interview for the Bulgarian National Television, BNT.

She spoke in the eve of the first meeting of the Parliament after the summer break, which began on July 30.

It was reported meanwhile that the Parliament had postponed debates on the transfer of BGN 1.4 B from the National Health Insurance Fund (NZOK) to the fiscal reserve because Djankov is still on vacation leave.

The debates were to be held Friday, during the regular Parliamentary control session, under the request of the opposition fractions – the Bulgarian Socialist Party, BSP, and the ethnic Turkish Movement for Rights and Freedoms, DPS.

Topic: Economy

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