Bulgaria will preserve its fiscal stability in the next two years even after street protests brought down the Borisov Cabinet, Bulgarian President Rosen Plevneliev stated on Wednesday.

"In the next 1-2 years Bulgaria will not deviate in any way from its fiscal deficit. Nor will there be any attempts to threaten the very low budget deficit it has achieved," Plevneliev told Bulgarian reporters in Brussels Wednesday night where he arrived for a commemoration of the rescue of Bulgarian Jews from the Nazi Holocaust in World War II together with Israel President Shimon Peres.

He added that Bulgaria's authorities are now going to switch to supporting "more productive policies and employment and welfare".

According to Plevneliev, in the past two years, the Borisov Cabinet should have adjusted its policies in order to tackle Bulgaria's growing social problems.

The Bulgarian President made it clear he hoped that the early elections he scheduled for May 12 would put an end to the political debacle in Bulgaria, especially since the three major parliamentary parties agreed to refuse the government mandate offered to be as required by the Constitution.

"There is nothing special going on. We've had such crises in the past. We've had caretaker cabinets in the past. We know how to cope with the situation," Plevneliev said.