Sunday, 7 August 2011

Boyko Borisov Has A Worried Look!

Well Bulgaria's Premier may have a worried look on his face with the current financial crisis escalating, but what he says is a contrast to the look he is giving.

Bulgaria currently counts on money from Brussels for large infrastructure projects, restructuring of the economy and social assistance programs.

Borisov says for Standart that the decisions of the European Commission would not be shaken by the American crisis because the countries in the Eurozone and allEU Member States are applying all possible efforts to keep the EUR stable.

"There is no reason to change the amount of the cohesion funding. What is more important for us is to absorb to the max the resources provided by the EU," the PM is quoted saying.

Economy experts in Bulgaria, however, argue about the impact of the US crisis on the country's financial market which has already suffered several blows. Some forecast a recession while others say Bulgaria's business and the stock exchange would not be affected negatively at all or not to the extent of those in the US and western Europe.