site.btaDeputy Prime Minister Donchev Meets with IMF Mission

Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev met with an expert mission of the International Monetary Fund (IMF), led by Fabian Bornhorst. On the agenda of the meeting was the current political and economic situation in the country, the Ministry of Innovation and Growth said.

"The main and most important issues on the agenda are political stability, budget consolidation, and the efforts of the executive to save the funds under the National Recovery and Resilience Plan," Donchev said. "We are currently negotiating with the European Commission on the rules for receiving the money. Bulgaria has implemented reforms that are eligible for the next payments," he added.

Asked about the priorities in the Ministry of Innovation and Growth, Donchev noted that procedures are to be implemented where the money reaches businesses as quickly as possible without taking months.

Among the main topics was attracting investors to Bulgaria.

The Deputy Prime Minister stressed that the investment process should be eased by reducing administrative obstacles and working closely with the industrial zones to achieve maximum speed in attracting investors.

"Skilled labout is of utmost importance. Attracting young people into engineering and successfully retaining them in the country is a key part of boosting economic growth and focusing on industry," Donchev said.

Regarding road infrastructure, the deputy prime minister said there was huge potential for the development of public-private partnerships in the sector. The government will work hard on completing major transport corridors, while Bulgaria's full membership in Schengen will help the favourable development of business and the economy.

The meeting was also attended by Deputy Minister of Innovation and Growth Martin Danovski, IMF Regional Resident Representative for Central and Eastern Europe Geoff Gottlieb, Senior Economist Vahram Stepanyan, Economist Giacomo Magistretti and IMF Country Resident Representative Iglika Vassileva.

An IMF expert mission is visiting Bulgaria between February 12 and 18. The visit is taking place in the context of the international organization's monitoring of the policies of the member states. 

The IMF mission's expert visits are part of the usual format by which the international financial institution interacts with member countries with which it has no agreed implementation programmes.