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Bulgarian FinMin Bent on Privatization, Sacking
Date: 14/06/2011
Bulgarian FinMin Bent on Privatization, Sacking

Bulgaria plans to put out four or five important companies for privatization, announced Minister of Finance Simeon Djankov.

"Any moment is a good one for privatization, for the state is not a good husband and owner," said Djankov for the Bulgarian National TV.

He confirmed that legislative amendments are under way in Parliament to allow the privatization of "four or five companies" which are up to now in the list of firms prohibited from privatizing.

Djankov clarified the money from the sales will not be used by the government, but will rather go to one of Bulgaria's retirement funds.

The Bulgarian Minister of Finance also said that he gave the director of the National Revenue Agency Krasimir Stefanov "one or two months" to improve control in his agency and to boost revenue.

During the last weeks, a major firing campaign has been taking place at the National Revenue Agency, with top managers and directors being sacked.

Regarding the controversial and unconfirmed plans of cabinet to raise the minimum wage and retirement pensions in Bulgaria, Djankov said the increases were something positive, but ought to be introduced only after extensive consultations with employers and trade unions.

He did not give a date the increases will be introduced, after on Saturday he had rejected prior information that would happen July 1.

Topic: Economy

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The biggest city at the Bulgarian Black Sea coast, Varna is situated 470 km east of Sofia. In the course of more than 7 millennia, the Gulf of Varna has been the cradle of several significant civilizations - humankind's oldest gold was excavated in Varna, created by people who inhabited that place around the 4th millennium BC and long before the Thracians, Greeks, Bulgarians and Turks.

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