Bulgaria: Measures to combat economic crisis

Bulgarian Prime Minister Boyko Borisov's conservative cabinet on Wednesday introduced a package of measures to boost revenue. The measures are also designed to cut spending in order to combat the effects of the global economic crisis. Bulgaria: Measures to combat economic crisis The 59 individual measures, including the sale of minority stakes of the state in enterprises and excise duties on luxury items and games of chance, along with spending cuts, are to provide an additional 1.6 billion leva (1.1 billion dollars) in the state budget. Intent on propelling Bulgaria to the European economic and monetary union, Borisov plans to keep the budget deficit under 3 per cent of the gross domestic product (GDP), which is in line with the Maastricht criteria for members. Borisov's cabinet had originally planned a budget deficit equalling 0.7 per cent of the GDP for 2010, but the target had to be revised because of the crisis. Two Balkan neighbours, Romania and Bulgaria, joined the European Union in 2007.

Bulgaria: Measures to combat economic crisis

The 59 individual measures, including the sale of minority stakes of the state in enterprises and excise duties on luxury items and games of chance, along with spending cuts, are to provide an additional 1.6 billion leva (1.1 billion dollars) in the state budget.

Intent on propelling Bulgaria to the European economic and monetary union, Borisov plans to keep the budget deficit under 3 per cent of the gross domestic product (GDP), which is in line with the Maastricht criteria for members.

Borisov's cabinet had originally planned a budget deficit equalling 0.7 per cent of the GDP for 2010, but the target had to be revised because of the crisis.

Two Balkan neighbours, Romania and Bulgaria, joined the European Union in 2007.