Bulgarian Finance Minister Plamen Oresharski attended a session of the EU Economic and Financial Affairs Council in Brussels.

Public finance was among the major topics discussed, Focus news agency reported. A research of the European Commission shows economic growth will decrease with two per cent by 2050 while social securities and pension funds will rise with the same percentage.

A number of countries have already undertaken measures to limit the negative effects of the increased securities. Most ministers agreed the share of private pension funding should increase, combined with tighter regulatory measures.

Oresharski said the demographic crisis Bulgaria is experiencing makes the situation more difficult.

During the meeting the president of the European Bank for Reconstruction and Development (EBRD) Jean Lemierre acquainted ministers with the bank's two-year strategy. Lemierre said Bulgaria is a good example for EBRD's work.