Bulgaria should focus its efforts on improving the efficiency of public expenditure according to European Union (EU) finance ministers, Finance Minister Plamen Oresharski said.

Oresharski took part in a conference on the adoption of the Convergence Programme of Bulgaria by the EU Economic and Financial Affairs Council (ECOFIN), Finance Ministry said.

The Convergence Programme involves the country's fiscal and macroeconomic policy and presents the medium-term plan for macroeconomic stability within the period from 2007 to 2009. Convergence programmes are prepared by EU member states that are not part of the euro zone.

The programme is part of the EU monitoring of Bulgaria's fiscal policy and aims at meeting requirements for entry to the Economic and Monetary Union (EMU). EMU involves all EU member states that have accepted the euro as their currency.

ECOFIN Council said that the medium-term state of the budget is stable and Bulgaria has to maintain its fiscal policies. Oresharski said that according to recommendations of ECOFIN the country should increase its budget surplus for 2007 from 0.8 per cent to at least two per cent.