site.btaBulgarian Economy Needs Specialization, Deputy PM Donchev Says

Sofia, October 17 (BTA) - Bulgarian Deputy Prime Minister Tomislav Donchev said that Bulgarians lack a sense of shared objective. In his opinion, such an objective is "to become really good at something: education plus its ensuing effects for the economy and industry. This country should specialize in something, and this should mark the rest of the state policies," the Deputy PM underscored at a "Business and Government Meet Up" discussion organized by the Bulgarian Business Leaders Forum (BBLF) here on Tuesday. Prime Minister Boyko Borissov also attended the forum.

Donchev recalled this country's good macroeconomic indicators and noted the effort to reduce the administrative burden. He pointed out that if this pace of reduction is kept up, the desired effect may be expected in mid-2018. The Deputy PM also stressed the need to think about Bulgaria's labour market demand in 10-15 years. "The country now is not in a particularly good position in terms of human capital on a pan-European scale," he argued.

BBLF Deputy Chairperson Zoya Paunova cited Eurostat data which Bulgaria among the top five Member States in terms of economic growth, which will reach 4 per cent by the end of 2017 and this trend will persist in 2018. Unemployment is at its lowest in 30 years, while the World Economic Forum has ranked Bulgaria 39th out of 137 countries in competitiveness, Paunova said.

BBLF Board member Levon Hampartzoumian said that Bulgaria has all the reasons to be economically optimistic for 2017 and the next few years. "The country has achieved macroeconomic growth not because it mines natural resources but because it has enterprising people who generate the new wealth," he said, adding that business circles are "in the same boat with the government".

Pointing out that "there are many things that are no longer interesting when completed, but we are really a role model for the rest of the countries," Borissov listed some successes of his Government, including the fight against contraband, increased budget revenues and improved absorption of EU funds: having started at 0.48 per cent, Bulgaria now ranks seventh, leaving 20 EU countries behind. The PM is pleased that investments in this country go into production.

"We have amended more than 100 laws to cut down red tape, and we will cope with this problem," Borissov said. "We are easing pressure on the tourism industry by importing manpower, but our own people go to work in other countries: can't we fix wages in a way to keep people here?" the PM asked the participants in the meeting. In his words, "we have an absurd social policy because we pay for everything and everywhere." "We prioritize education," Borissov said.