Sat, Feb 11 2012

IMF ADVISES BULGARIA'S CABINET ON WAGE POLICIES

Wed, Apr 19 2006 09:00 CET

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The Cabinet should refrain from artificial increase in the minimal wage. Such developments should be determined by market principles, International Monetary Fund (IMF) resident representative to Bulgaria James Roaf said.

Several safeguard clauses could be introduced after Bulgaria's entry in the EU, Roaf told Darik radio. Additional, smaller clauses cannot affect the country or slow down the provision of funds already allocated to Bulgaria, said Roaf.

IMF considers the macroeconomic situation in the country stable. Bulgaria moves forward on all EU-accession criteria, Roaf said.

The current account deficit is under inspection but for the time being it does not affect the Bulgarian currency. Bulgarian export to the EU increases, showing rhe country's competitiveness and the actual stable lev value, said Roaf.

Structural reforms are most important for the country's EU membership, said he. These reforms should aim at imrpoving the business climate and the relation between employeers and employees in Bulgaria.

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