"The growth of deposits in Bulgaria is very high," stated Bulgaria`s Minister of Economy and Energy, Peter Dimitrov, in the town of Montana, northwestern Bulgaria.

"Within two year alone, the bank deposits have grown by 60%: from 2.86 billion levs (1euro=1.95levs) in 2006 to the present level of 4.27 billion levs. The Bulgarians officially get one salary and declare a different sum and this hampers the calculation of the real income growth," Minister Dimitrov explained.

The official income growth for 2006 is 17,6% and for 2007 - 23,9%.

"The industry sector is reviving," Minister Dimitrov said further.  "The foreign investments in Bulgaria are also growing. In 2007 they totalled six billion euro. Bulgaria occupies 9th place in investments worldwide," Economy Minister Dimitrov added.

"Bulgaria has a fiscal reserve of 8 billion levs which enables this country to pay off the bonds on the external debt, but it is more favourable for Bulgaria to serve the loan," Dimitrov pointed out.

"Bulgaria only witnesses deterioration in agriculture. Due to the poor weather conditions and the hike in prices of fuels in 2007, the nosedive is 30%. We expect that agriculture stabilizes in 2008," Minister Dimitrov also said. 

"Big money enters Bulgaria but at the same time a large share of it goes abroad. The Bulgarians do not invest but buy expensive cars," Minister Dimitrov concluded.