Bulgaria presented its comments on the OECD Economic Review with a focus on stability, a transparent transition to the euro and sustainable policies.
Deputy Minister of Economy and Industry Doncho Barbalov participated in the Economic Review of Bulgaria at the Economic Development Committee of the Council of the Organization for Economic Co-operation and Development (OECD) in Paris.
The Bulgarian delegation expressed its gratitude to the OECD for the draft Economic Review of Bulgaria for 2025, emphasizing the excellent cooperation and dedication of the organization's team.
„We are fully aware of the key role of this committee in the process of Bulgaria's accession to the OECD. The main conclusions and recommendations in the report are well balanced and correspond to our assessment of the development of the economy,“ said Barbalov.
He emphasized Bulgaria's upcoming accession to the eurozone as a historic moment that will provide stability and predictability for the economy. The Deputy Minister indicated that the government is committed to a transparent and smooth transition, supported by a comprehensive national information campaign that includes local authorities, businesses and citizens.
During the review, the members of the delegation indicated that Bulgaria emphasizes the need for targeted and fair support for business in the context of competitiveness and decarbonization, including through temporary support schemes. It was also noted that the reforms on accelerated liquidation and pre-procedural mechanisms for small and medium-sized enterprises have already been fully implemented and aligned with European directives.
“The OECD report and its conclusions are extremely useful for shaping policies aimed at long-term sustainability and addressing future challenges,“ Barbalov also stated, emphasizing Bulgaria's readiness to actively participate in the subsequent discussions and the revision process.
In conclusion, the Bulgarian delegation pointed out that Bulgaria strives for higher productivity, investments in innovation, digitalization and skills, as well as a better business environment - in order to accelerate its convergence with developed economies and build a competitive, sustainable economy.
The Deputy Minister of Economy is part of the Bulgarian delegation, which is led by Deputy Minister of Finance Metodi Metodiev. The review was also attended by Deputy Minister of Innovation and Growth Martin Danovski, Krasimir Nenov, Deputy Minister of Energy, Gergana Aleksova-Velikova, Deputy Minister of Labor and Social Policy, and Nikolay Vitanov, Deputy Minister of Education and Science.
The Economic Development Committee is a key body of the OECD that analyzes the economic policies and performance of member countries and candidate countries. It prepares regular economic reviews with assessments and recommendations for achieving sustainable growth and macroeconomic stability, assisting countries in improving their policies in accordance with OECD standards. As part of the process of Bulgaria's accession to the organization, the committee is conducting an economic review of the country, assessing its progress and the main challenges facing development.