site.btaEconomy Minister: EC, IMF Confirm that Bulgaria's Anti-Crisis Measures Are Working

Both the European Commission and the International Monetary Fund (IMF) have concluded that the measures taken by the Bulgarian government are working, Economy and Industry Minister Kornelia Ninova said on Monday. In its recommendations for the economic policies of the EU Member States published on Monday, the Commission confirmed that Bulgaria's economic and social policy and anti-crisis plan are correct. The Commission recommended that Bulgaria "keep providing targeted support for households and firms most vulnerable to energy price hikes and expand public investment" for energy security, Ninova said, commenting on the Commission's recommendations.

"Speculation that the anti-crisis measures will drive inflation and aggravate problems is wrong. Using the energy companies' excess profit to help out industries is a lifebelt for the economy and jobs," said Ninova.

The Economy Minister recalled that for its part, the IMF recommended support to the poorest and most vulnerable groups. Ninova specified that in Bulgaria, those are pensioners, children, young families and the working poor. "In this sense, the government's social policy is absolutely adequate to the situation. A 20% pension increase, a rise in tax relief for working parents from BGN 450 to BGN 600 for one child and from BGN 900 to BGN 1,200 for two children, and an increase in employees' vouchers from BGN 1 billion to BGN 1.2 billion - these are all targeting the most vulnerable people," the Economy Minister said.