Bulgaria's New Cabinet Pledges to Win Back Citizens’ Trust

Bulgaria’s interim cabinet said on Thursday winning back the people’s trust in state institutions should be the first step in leading the country out of the current crisis.

Upholding the rule of law and cooperation with the civil society will be key guiding principles for the interim cabinet that took office on Wednesday with the main task to prepare early elections for members of the 43rd National Assembly set for on October 5.

“Only the institutions’ transparency and accountability will guarantee the trust of citizens and economic entities in the state and the smooth transition to elected government after holding free and fair elections,” the cabinet said in a statement.

In the economy, the cabinet plans to boost budget revenue collection and cut inefficient spending following an analysis of budget parameters as of end-July and also draft a 2014 budget update.

To ensure more efficient compliance with good banking practices the cabinet plans to set in motion a procedure for joining Europe's Single Supervisory Mechanism.

In order to address the deficiencies in the energy sector the interim cabinet is going to set up an Energy Board jointly with the European Commission, the EBRD and all interested parties to boost transparency, competition and market efficiency. It also plans to launch talks for setting up a regional energy market as part of pro-active approach to the EU’s common energy policy.