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SMALL BUSINESS
Expert: Bulgaria in no immediate need for IMF loan
AP
SOFIA, Bulgaria -A top financial adviser of the party that won Bulgaria's parliamentary elections said Tuesday that the new government will start talks with the International Monetary Fund as soon as possible.
Simeon Dyankov, an expert at the World Bank who is tipped to become the next finance minister in Bulgaria's center-right government, said in an interview with Bulgarian national TV that the IMF will be invited to analyze the current situation of the country's budget.
But he ruled out the possibility the government to ask the IMF immediately for a loan.
"We have a period of four to six months to try to prepare the 2010 budget in a way that no additional money would be needed," Dyankov said.
He added, however, that the 12 billion leva, or euro6 billion, budget surplus at the beginning of this year has contracted currently to 3 billion leva (euro1.5 billion) due to hefty spending by the outgoing Socialist-led coalition government.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-07-07 08:03:26
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