Finance Minister: Bulgaria reveals strongest export growth in five years

Finance Minister: Bulgaria reveals strongest export growth in five years

Bulgarian Finance Minister Simeon Dyankov said that, against the backdrop of current events in the European Union, Bulgaria is stable and financially sound, with strong export growth and good prospects, Bulgarian National Television (BNT) reported on June 15 2010.This would suggest that public sector wages could possibly rise, rather than fall, and that the Government was considering how to go about this, the report said."I am satisfied that signals indicate we are leaving the crisis. As far as I am concerned, this is the Government's priority, along with tackling organised crime, where we are also enjoying substantial success. For the moment, the Government's action in these two sectors is going really well," Dyankov told BNT."Statistics for April 2010 indicate 40 per cent export growth, the highest monthly growth over the past five years. The most positive part of the data is that growth, on a monthly basis, is very strong, not only in exports to the European Union - which is at 23 per cent - but also to countries in the Middle East, Asia, and other regions, where it is 57 per cent. Growth levels show the very positive state of our exports," he said.According to the minister, Bulgaria was also faring considerably better than certain other European countries in cigarette contraband. Statistics for the European Union indicate that cigarette contraband in Bulgaria accounted for 29 per cent of the grey economy, as opposed to around 60 per cent in Lavtia and Estonia. Germany, however, fares considerably better with cigarette contraband accounting for just 10 per cent of the grey economy.

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