site.btaBulgarian Finance Minister Petkova Takes Part in ECOFIN Council Meeting

Bulgaria's caretaker Deputy Prime Minister and Finance Minister Lyudmila Petkova took part in an Economic and Financial Affairs Council meeting in Brussels on Tuesday, her Ministry’s press centre said.

The economic and financial impact of Russia’s aggression against Ukraine was at the top of the meeting's agenda. The Minister of Finance of Ukraine, Sergii Marchenko, who participated via video link, briefed his EU counterparts on the latest macroeconomic and budgetary developments in the country. Marchenko highlighted Ukraine's commitment to implementing the reforms and investments outlined in the International Monetary Fund programme and the Ukraine Facility. In conclusion, he stressed Ukraine's determination to continue to protect its population and territory. The Council was briefed on the progress made in using the profits from frozen Russian assets to support Ukraine's defence, and the efforts to prevent the circumvention of sanctions on Russia.

The ministers also exchanged views on the state of play in the implementation of the Recovery and Resilience Facility.

On May 13, Petkova conferred with European Commissioner for Economy Paolo Gentiloni and Eurogroup President Paschal Donohoe. They discussed the political situation in Bulgaria, the latest developments in the country’s practical preparation for its integration into the euro area, and the fulfillment of the convergence criteria. Gentiloni and Donohoe welcomed the caretaker government’s consistent efforts, stressing the importance of political stability for the successful finalization of the accession process.