site.btaPrime Minister Borissov: We Expect to be Invited to Euro Area Waiting Room in July

March 28 (BTA) - At a Bulgarian-German economy forum here Thursday, Prime Minister Boyko Borissov said he expects Bulgaria to be invited to the euro area "waiting room" in July. He noted the country has to fulfil three more requirements, but that the infrastructure is being developed and that Bulgaria has a good investment environment.

"We have carried out our obligations to the EU and we strictly respect and protect the union's borders," Borissov said. In his words, Bulgaria has a huge fiscal reserve guaranteed by the currency board mechanism and the country's external debt continues to fall.

Answering to a business representative's question, Borissov noted that all efforts are made so as not to raise the price of electricity. The State should do its best to help the business so that companies may increase revenues, and they are the most important, according to the Prime Minister.

Outlining the labour issue, he stressed that all politicians, including himself, were to blame for Bulgaria being advertised with qualified but cheap labour. The latter played a bad joke on the home labour market, as workers from all spheres went abroadwhere wages are higher.

Borissov commented on Brexit, saying that there will be consequences for all countries, if the United Kingdom chooses the no-deal scenario. "Whoever thinks Brexit is far from us and doesn't concern us, is very much mistaken," he noted.

Tim Kurt, President of the German-Bulgarian Chamber of Industry and Commerce (GBCIC), said that the two countries have successful economic relations. Investments have gone up, and German companies benefit from the advantages that Bulgaria offers, such as low taxes, qualified labour, and stability. Kurt outlined the education and judicial systems and combatting corruption as challenges for the business.

The forum was organized by the GBCIC. IG/TH


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