Second Round of Negotiations with the IMF Start Today.

23.10.2001 Source: BTA

IMF Mission Leader for Bulgaria Jerald Schiff arrived in Sofia Monday for another round of talks with the Government on the macro-framework of the 2002 budget. "In general, [the Government's proposals] form the basis for reasonable budget," said Schiff adding that each of the measures will be discussed this week. Schiff recalled that the IMF will insist on a 0.75% budget deficit next year. During its meetings with the IMF people the Bulgarian government will continue to discuss the introduction of VAT in the tourist services and the possibility for providing incentives to the economic entities wishing to reinvest their profit, Finance Minister Velchev said. This mission's aim is not to sign an agreement and it will not end with an agreement; this will happen at the next IMF mission which will take place before the year's end, Velchev added.