Caretaker PM Sees No Grounds for Speculations on Fiscal Reserve

Caretaker PM Sees No Grounds for Speculations on Fiscal Reserve

Caretaker prime minister Marin Raykov said there is no reason for speculations on the state of the country's fiscal reserve which amounted to 4.0 billion levs ($2.6 billion/2.05 billion euro) as of March 18.

Furthermore, the state budget is expected to receive over 1.2 billion levs in transfers from the EU by April 20, local daily Dnevnik quoted Raykov as saying.

These will include 400 million levs under EU-funded operational programmes and reimbursement of 800 million levs, which the previous government disbursed as advance subsidies to local farmers.

The cabinet is committed to sticking to the parameters of the 2013 budget bill, which  provides for a fiscal reserve of 4.5 billion levs by the end of the year, Raykov added.

He dismissed speculations that the government could take a 1.0 billion levs loan to increase social revenues, adding that this is not in the powers of the caretaker government.

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