The Managing Director of the International Monetary Fund Kristalina Georgieva called for high fiscal discipline.
She attended the regular meeting of the Fund and the World Bank group in Varna, days after the G-7. The forum was attended by Finance Minister Galab Donev and BNB Governor Dimitar Radev.
Georgieva's advice on the question of whether to spend or invest is not to spend money that we do not have.
Kristalina Georgieva, Chairwoman of the IMF: “My answer is “Let's invest!” Let's use the resource, which is not large, wisely. Don't spend money that you do not have. And those that you have, invest in your future – in innovation, in education, in digital infrastructure.“
Dimitar Radev, Governor of the Bulgarian National Bank: “Regarding the specific issue of financial stability, the recipes are clear. If we put this in the context of the problems we face in Bulgaria, this means returning to the path of a sound, sensible fiscal policy, of better coordination of fiscal and monetary policy. We have witnessed that in recent years we have not had very good coordination in this regard.“
Galub Donev, Minister of Finance: “The message to Bulgaria from international financial institutions at the moment when Bulgaria is preparing its budget for 2026 is that a thorough analysis of the efficiency of spending in public finances must be done. And the other message is how to move away from spending and spend as much as we earn.“