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Expect higher interest rates and a more limited access to credits

Submitted on Wednesday, 4 March 2009No Comment
Expect higher interest rates and a more limited access to credits

“By the end of this year, there will be pressure in the liquidity, higher interest rates and a more limited to credits”, said the minister of finance Plamen Oresharski in Plovdiv today.

The minister did not want to make prognosis for the coming year. Oresharski noted that the interest rates are the reflection of the lowered resources.

“It is clear to everyone, that there is a huge crisis of liquidity worldwide. Interest rates everywhere are higher than the ones from a few months before”, said the minister of finance. He added that Bulgaria is no exception.

“In short term, I’m not optimistic for a lowering of interest rates”, said the minster, adding that this is his opinion. When asked for the plans of the government for crisis prevention, the finance minister answered: “If Stanishev, Barroso, or Sarkozy could neutralize the crisis, they would’ve done it by now. At the moment, it is a matter of mitigation of the most severe aspects of the crisis”.

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