KRIBB'S PROPOSALS TO THE ADVISORY ANTI-CRISIS COUNCIL TO THE PRIME MINISTER

· All major political forces to sign an agreement (pact) in which they undertake to preserve the currency legislation and the currency board and after the elections until the entry into the ERM-2 and the Eurozone, as well as to maintain macroeconomic stability and fiscal discipline. The KRIB Board of Directors decided that the organization should initiate the preparation of such a document and begin consultations with the political parties for its signing.  

· Immediate conclusion of a safeguard agreement with the IMF, the negotiation of which should be most closely coordinated with the European Commission; it will have a disciplining effect, strengthen confidence in Bulgaria's stability and help speed up the process of the country's convergence to the euro zone.

· Regulation of the spending of funds from the budget and the Fiscal Reserve (FR); determination of a threshold below which the FR deposited in the BNB should not fall, since it participates in the formation of the aggregate foreign exchange reserve of the BNB's Issue Management.

· It is imperative to start a procedure for updating the state budget or to introduce a more conservative buffer for the implementation of expenses from 90 to 80%, in view of the decline in economic activity, the slowdown in GDP and the reduced revenues in the budget.

· Improving the risk management system in the National Revenue Agency and creating a "Golden Register" for faster VAT refunds to companies that are correct taxpayers. 

· Additional increase of the guaranteed minimum amount for bank deposits to 100 euros in accordance with the recommendations of the European Commission in order to maintain confidence in the banking system.

· Expansion of the program for granting loans to small and medium-sized enterprises through the Bulgarian Development Bank and improving its efficiency and effectiveness. According to KRIB, currently, of the approved lines for BGN 500 million to commercial banks, BGN 80 million have actually been used.