site.btaFinance Minister Goranov: Bulgaria Has Potential to Exceed 3% Growth Projections

Finance Minister Goranov: Bulgaria Has Potential to Exceed 3% Growth Projections

Sofia. May 11 (BTA) - Bulgaria has a potential to exceed projections which set economic growth at 3%, Finance Minister Vladislav Goranov told journalists on Thursday after a forum on the Juncker plan.

Of Prime Minister Boyko Borissov's expectations for a considerable growth in 2018, the Finance Minister said that Borissov's words were an assessment of the economy's potential.

Taking a question, Goranov said that the money for the increase of pensions will come from an outperformance of revenues from social insurance and the budget won't have to be updated.

If the amount has to be topped up then central budget expenditures and transfers will be cut back. He specified that the energy allowance scheme will be adjusted to reflect the new contributory and old age pensions.

Also, Goranov said that from September teachers' salaries may increase by over 15 per cent and will double by the end of the four-year term of the government.