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IMF Shows Concern over Bulgaria's Foreign Debt

Date: 08.09.2006

The International Monetary Fund (IMF) will express its concern over the big deficit in Bulgaria's foreign trade and the size of the foreign debt at a meeting in Singapore next week, the Financial Times wrote.

For Bulgaria, the IMF envisages a deficit of the current account of 12,4 % of the GDP. For this reason the IMF insists on a 2 % budget surplus in 2007. At the same time, Bulgaria's Ministry of Finance is preparing several options for reduction of taxes. Profit tax will be lowered to 10-12 %, while the tax-free minimum income will be increased from 200 levs to 220 levs (1 euro = 1.95583 levs).

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