Minister Goranov outlines the public fiscal framework
Balanced budget, a gradual reduction of the deficit and a conservative fiscal policy are some of the main points in the three-year budget forecast approved by the Council of Ministers, which sets out the framework for the development of public finances and the distribution of government expenditures across the board for the next three years. Minister of Finance Vladislav Goranov presented this information to journalists on 17 May. The programme targets a gradual reduction of the deficit and reaching a balanced budget in 2020, the minister noted.
The first such financial instruments will be admitted in three to six months
Shares of foreign companies will be traded on the Bulgarian Stock Exchange (BSE) thanks to a project that has been in the works since last summer, announced Vasil Golemanski, chief executive officer of BSE. Called BSE International, the project envisions the establishment of a special platform in the Bulgarian market dedicated to the trading of shares of companies listed in European markets.
 
The Printing Works of the Bulgarian National Bank has obtained the right to produce euro banknotes after Оbеrthur Fіduсіаіrе AD - Sofia, a joint venture of Printing Works of the Bulgarian National Bank and Оbеrthur Fіduсіаіrе ЅАЅ - France, was accredited by the European Central Bank.
 
In Brief
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Mariya Gabriel responsible for Digital Economy and Society
 
President Jean-Claude-Juncker interviewed on 16 May Mariya Gabriel, the candidate proposed by the Bulgarian Government as Commissioner, EC press service reported. On this basis, President Juncker confirmed the competencies of Mariya Gabriel required under Article 17(3) of the Treaty on EU to become candidate for Commissioner and announced his intention to allocate the Digital Economy and Society portfolio to her. Procedurally, the new Commissioner of Bulgarian nationality is appointed by the Council of the EU by common accord with the President of the Commission after consultation of the EP.

Development Bank contracts €80m loan from China
 
The Bulgarian Development Bank (BDB) has negotiated €80m from the China Development Bank (CDB) to finance Bulgarian companies. The loan agreement was signed on 12 May by BDB Executive Director Angel Gekov and Peng Jianxun, vice president of CDB Chongqing Branch. This is the second loan extended by CDB to the Bulgarian financial institution. The co-operation between the two banks dates back to 2009 when BDB received a €5m loan. The contracted funds will be used for the provision of investment and working capital loans as well as credit lines to Bulgarian companies, borrowers of BDB. The resources may also be used by BDB to support strategic projects within the One Belt, One Road Initiative, which was launched in 2013. 


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