site.btaPrime Minister Borissov: Anti-Contraband Measures are Government's Top Priority

Prime Minister Borissov: Anti-Contraband Measures are Government's Top Priority

Sandanski, Southwestern Bulgaria, February 21 (BTA) - The debt
that has to be raised will be needed to repay 12 billion leva in
 maturing obligations and to maintain low interest rates in the
next three years, said here on Saturday Prime Minister Boyko
Borissov. He was speaking at the Sixth Winter University of
GERB's youth organization, mottoed "We Can in Bulgaria".

According to Borissov, if Bulgaria defaults on its debt, its
ratings will collapse because it will stop being a predictable
country.

Intensive consultations in the government majority took place
last week while Parliament was debating the ratification  of
three agreements with four international banks which are to 
manage new bond issues worth a maximum of 8 billion euro in the
 next three years. The banks chosen to manage the bond issue are
  Citigroup Global Markets Limited, HSBC Bank Plc, Societe 
Generale and UniCredit Bank AG.

Borissov said that currently anti-contraband measures top the
government agenda.

"Unless we increase budget revenues by at least 50 to 60 per
cent, personally I believe that we have failed," said Borissov.
He added that at least 600 million leva more should be collected
 in 2015. Until now, the Customs Agency and the National Revenue
 Agency between them have collected 160 million leva more.
Borissov voiced a hope that the government will be able to give
out Easter bonuses to pensioners after the 50 million leva in
Christmas bonuses. The Prime Minister was adamant that these
wonТt be temporary measures. "By doing this we show the
government's will to work for another three years and not until
the local elections in the autumn as it is suggested," the Prime
 Minister said.

Borissov also said that the energy sector has been incurring
debts over a period of 25 years.