Bulgaria
April 28, 2003 09:57 PM | Permalink
Bulgaria was one of the three countries on the United Nations' Security Council, along with Spain and England that supported the American invasion of Iraq. I don't know the exact reason for this support, but part of it was the $1.8 billion dollars of Iraqi debt, which the Iraqis owe to the country. Now, when the war is over, Bulgaria will probably have to suffer some of the consequences the war might have on the economy. Whether the short-term conflict in Iraq will have favorable consequences for the Bulgarian economy will be clear in June or September, the Vice Prime-minister Nikolay Vasilev forecast. The first effect felt so far is the rise in oil prices; tourism has also been affected slightly. According to Vasilev, Bulgaria can expect a 10-percent increase in tourism receipts this year. A couple of weeks ago the Bulgarian Prime-minister Simeon Saxe Coburg-Gotha returned from his working visit in Washington. He assessed his meeting with president Bush as very successful. During the visit, the Bulgarian foreign minister Solomon Passi accompanied the Prime minister. Minister Passi commented from the USA that Bulgaria had presented all its requests: increasing US investment, the trade turnover, and the problem about Iraq's debt to Bulgaria. Asked to comment Simeon Saxe Coburg-Gotha's words that Bulgaria would receive guarantees like a NATO member, Passi quoted Bush: 'The USA stands by its friends.' Bulgaria can hardly receive a bigger guarantee than that, Passi commented. The military support for Bulgaria will increase substantially, the Defense minister Nikolay Svinarov was quoted.