Банкеръ Weekly

Briefs

PROMYANA TRADE UNION CHALLENGES THE WORLD BANK

Last May the World Bank (WB) published a confidential 250-page report on the Public Expenses Issues and Reform Directions. The report contains discrepant information as well as WB's proposals to the Bulgarian Government on the reforms in the field of education, healthcare, tax policy, army and social sphere, said Promyana Trade Union Chairman Dimitar Dimanov. The report shows that the world financial institutions, the International Monetary Fund (IMF) and the WB, are rudely meddling in the internal policy of the Cabinet, said Velichka Rangelova, Head of the Centre for Social and Economic Analyses and Forecasts.According to WB experts, Bulgaria is going to face a significant deficit in its current account as well as serious probation while trying to support the macroeconomic stability. That's why the WB recommends that the Cabinet lead strict financial and income policy and delay the reduction of the taxes. Ms. Rangelova claims that such measures are going to bring the nation to an Argentinian economic situation with a Kossovo shade.Members of Promyana Trade Union insist that a public discussion be held and that the recommendations of the international financial organisation be interpreted in accordance with the situation in Bulgaria. The experts proposed to establish a public committee responsible for non-implementation of the recommendations of WB and IMF, because these institutions launched a very small amount of money to Bulgaria compared to the conditions they set. The WB representative office spokesman, Georgi Kurtev, explained that the report in question was not confidential. It is a preliminary version of the State Expenses and State Institutions Review, which is part of a series of analytical reports related to the WB's strategy for the next three years, Mr. Kurtev pointed out.

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