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Monika Panayotova, Chairwoman of the Committee on European Affairs and Oversight of the European Funds (CEAOEF) took part in an inter-parliamentary meeting on “The European Semester for Economic Policy Coordination”.
15/03/2011
After the Treaty of Lisbon entered into force, the national parliaments play a greater role in defining the European Agenda, and as a result, the Bulgarian MPs involvement in the European affairs has significantly increased.
In this regard, on 9 February 2011, the CEAOEF held a discussion on the European Parliament Resolution of 20 October 2010 on the financial, economic and social crisis. The Committee expressed its reservations on three of the 6 legislative proposals, concerning the Economic Governance of the EU - part of the Annual Working Programme of the National Assembly on European Union Issues (2011).
On 14 March 2011, Ms. Panayotova took part in an inter-parliamentary meeting, chaired by the European Parliament, dedicated to investments in the real economy and ensuring the delivery of “EU 2020” targets. Ms. Menda Stoyanova - Chairwoman of the Budget and Finance Committee, Mr. Delyan Dobrev - Deputy Chair of the Economic Policy, Energy and Tourism Committee and Ms. Anna Yaneva - member of the same Committee also participated in the Bulgarian parliamentary delegation.
Mr. Delyan Dobrev presented the Position of the Bulgarian Parliament. He payed special attention to the fact that Member States should solve two main problems: how to ensure their financial stability and how to stimulate their economies via supporting the Small and Medium Enterprises in order to generate economic growth and create sustainable employment. His exposé was in line with the position of Ms. Iliana Ivanova, a Bulgarian MEP (EPP Group) and Vice-chair of the Special Committee on the Financial, Economic and Social Crisis of the EP. She pointed out that the EU should remain united and respect the interests of the new Member States.
According to Mr. Dobrev, providing financial stability includes solving excessive debt issues which is by no means easy but is certainly achievable when the political will exists. He mentioned that Bulgaria was also in Excessive Deficit Procedure, which has been lifted. Bulgaria’s Budget deficit in 2011 would remain within 2,5% of GDP. The Government would continue its conservative and disciplined fiscal policy. Mr. Dobrev explained, the implementation of the Financial Stability Pact is being discussed in Bulgaria, focusing on three main aspects:
1. Public sector share, reducing the redistributive role of the state to maximum 37% of GDP;
2. Budget deficit should be within 3% in correspondence with the economic growth and the consolidated public debt;
3. Sustainable fiscal policy in regard to the direct taxes; A decision on future changes of the direct taxes should be taken with a broad public consensus and a parliamentary majority of 2/3.
The first and the second arms would guarantee the financial stability of Bulgaria. The third arm of the Pact would increase investor’s confidence in the business environment sustainability and would enhance the investments growth, leading to a real economic growth and creation of sustainable employment.
Mr. Dobrev concluded that financial stability by itself wouldn’t allow us to achieve intensive and sustainable economic growth. It should be complemented by measures for improvement of the business environment and enhancement of the EU economic competitiveness.
In this regard, on 9 February 2011, the CEAOEF held a discussion on the European Parliament Resolution of 20 October 2010 on the financial, economic and social crisis. The Committee expressed its reservations on three of the 6 legislative proposals, concerning the Economic Governance of the EU - part of the Annual Working Programme of the National Assembly on European Union Issues (2011).
On 14 March 2011, Ms. Panayotova took part in an inter-parliamentary meeting, chaired by the European Parliament, dedicated to investments in the real economy and ensuring the delivery of “EU 2020” targets. Ms. Menda Stoyanova - Chairwoman of the Budget and Finance Committee, Mr. Delyan Dobrev - Deputy Chair of the Economic Policy, Energy and Tourism Committee and Ms. Anna Yaneva - member of the same Committee also participated in the Bulgarian parliamentary delegation.
Mr. Delyan Dobrev presented the Position of the Bulgarian Parliament. He payed special attention to the fact that Member States should solve two main problems: how to ensure their financial stability and how to stimulate their economies via supporting the Small and Medium Enterprises in order to generate economic growth and create sustainable employment. His exposé was in line with the position of Ms. Iliana Ivanova, a Bulgarian MEP (EPP Group) and Vice-chair of the Special Committee on the Financial, Economic and Social Crisis of the EP. She pointed out that the EU should remain united and respect the interests of the new Member States.
According to Mr. Dobrev, providing financial stability includes solving excessive debt issues which is by no means easy but is certainly achievable when the political will exists. He mentioned that Bulgaria was also in Excessive Deficit Procedure, which has been lifted. Bulgaria’s Budget deficit in 2011 would remain within 2,5% of GDP. The Government would continue its conservative and disciplined fiscal policy. Mr. Dobrev explained, the implementation of the Financial Stability Pact is being discussed in Bulgaria, focusing on three main aspects:
1. Public sector share, reducing the redistributive role of the state to maximum 37% of GDP;
2. Budget deficit should be within 3% in correspondence with the economic growth and the consolidated public debt;
3. Sustainable fiscal policy in regard to the direct taxes; A decision on future changes of the direct taxes should be taken with a broad public consensus and a parliamentary majority of 2/3.
The first and the second arms would guarantee the financial stability of Bulgaria. The third arm of the Pact would increase investor’s confidence in the business environment sustainability and would enhance the investments growth, leading to a real economic growth and creation of sustainable employment.
Mr. Dobrev concluded that financial stability by itself wouldn’t allow us to achieve intensive and sustainable economic growth. It should be complemented by measures for improvement of the business environment and enhancement of the EU economic competitiveness.
