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IMF Representative for Bulgaria with Seat in Romania

Date: 14.09.2006

Juan Jose Fernandez-Ansola is the new IMF permanent representative for Bulgaria. He enters office in the end of September and his seat will be in Romania. He defined as positive Bulgaria's new relations with the Fund, as Bulgaria's agreement with the Fund expires in March 2007. Bulgaria will not have obligations to the IMF but the Fund will prepare an annual report on the reforms.

The 2007 economic growth will be 6 %, IMF forecast. They obviously expect upsurge of Bulgarian economy after the country accedes to the EU. IMF missions will arrive in Bulgaria in October and December for the 2007 budget preparation.

The Fund insists on 2 % budget surplus in 2007 to compensate the foreign trade deficit and the private debt.

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