Bulgaria had relatively good economic growth, steadily growing income and a record-breaking number of foreign investments, Finance Minister Plamen Oresharski said during the discussions in Parliament on the vote of no-confidence in the Cabinet on October 22 2007.

The income in the country did not increase as much as expected, but exceeded Bulgaria’s resources and increased the current account deficit, Oresharski said as quoted by Focus news agency.

Currently, budget surplus was main topic in the society, but it was not “a simple addition sum, it is the price of stability,” he said. The budget surplus realisation was the least expensive way of compensation of macroeconomic disbalances.

“I am saying all this because in the moment we are talking about salaries, despite the elegant attempts at a discussion about reforms.” The teachers emphasised the budget surplus, demanding a doubling of their salaries, but that would lead to economic instability,” Oresharski said.

The Cabinet should maintain the financial stability of the country, rather than give in to emotions, according to Oresharski.

The Minister said that he refused to accept the ultimatums of the teachers. “Insisting on improvement of our well-being would rather lead to its worsening. Do not do this to our society, we do not deserve it after 15 years of transition. Salary increase demands are always just, but if we release inflation, salary increase would be pointless,” Oresharski said.

The teachers' strike, which started on September 24 2007 and the crisis in the education sector were the grounds for the vote of no-confidence, tabled by the opposition. It is the third such motion against the current Cabinet.