NEWS

2012-05-27 20:00:00

Rosen Plevneliev tells CNN: Governments ought to spend according to what they have, not according to what they want

Governments should spend according to what they have, but not as much as they want. This is the way to achieve a better balance between measures to curb spending and to promote economic growth, President Rosen Plevneliev said in an interview with CNN World Report, broadcast on May 26. To make progress, first you must have stability, the President said. In his words, Bulgaria's macro-economic stability achieved in recent years is the basis for sustainable growth. However, it is the result of much effort and structural reforms.

“We're not perfect. Unemployment reached 11.5%, while economic growth is only 0.51%. Many politicians talk about growth, but my opinion is that growth cannot be bought and cannot be based on new debt at the expense of future generations,” President Plevneliev told CNN.
 

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