Bulgaria Supports Pact for the Euro, but Defends Competitive Tax Policy
24 March 2011 News
Bulgaria will join the political agreement in support of the Pact for the Euro, stated Prime Minister Borissov before the European Council today. The Pact, which the Eurozone leaders agreed on at the beginning of this month, aims at improving the competiveness of the European economy, strengthening the coordination of economic policies and limiting public debt. It is open to those EU Member States that are still not part of the Eurozone.
“Our principled support is based on the understanding that Bulgaria will join the Eurozone in the coming years” stated Prime Minister Borissov in a statement at the Bulgarian Parliament. “Part of the policies that are envisaged in the Pact we have already implemented, others are similar to our views. Bulgaria is one the countries in the EU with the lowest debt-to-GDP ratio. Despite the crisis we managed not increase the burden on people or businesses and now can boast the lowest taxes in the EU.
“Despite this, the time when we said ‘yes’ to everything that came from Brussels is coming to an end. We will defend our nation’s interests in all future discussions” continued Borissov adding that “Bulgaria will insist on preserving those policies that give it competitive advantages – namely the our low personal and corporate tax base”.