The most important lessons we have learned from the current crisis are that the restrictive measures must not violate fundamental human rights, the social measures must help those that are most in need and the financial measures must be targeted at those who will be the driving force of a fast recovery. This is what President Rumen Radev said in the statement he made at the high-level event on financing for development in the era of COVID-19 and beyond, which was held through a video-conference connection. The Bulgarian Head of State presented our country at the invitation of UN Secretary General Antonio Guterres.
The President said that the challenges ensuing from the coronavirus require strengthened multilateralism and international cooperation. “The current pandemic has more than ever brought out the need for efficient, targeted and sound fiscal policies. Countries should strike a careful balance between fiscal stimuli and sustaining reserves that can turn out essential”, Rumen Radev said.
“If we seek an effective and sustained recovery from the COVID-19 pandemic, if we want to learn our lessons from it and to build back better, we need bold measures both in the short and the long term”, Rumen Radev said. In his words, in the economic and financial area, policies should be pursued which are different from the established so far. “The world economy and its financial architecture should be efficient, inclusive, shock-proof and resilient to lay the ground for recovery and prepare us for unexpected emergencies like the one we are facing today”, Rumen Radev said. He emphasized that mobilizing the international community and allocating resources where they are needed is more important than ever. The Head of State said that the potential of the private sector should be utilized and highlighted the need of an international platform for COVID-19-related projects where both private and public donors can provide their assistance.
The COVID-19 pandemic has made evident that investment in healthcare systems is more than crucial and must make the system more stress-proof and resilient. In parallel to this providing medical services for everyone in need is necessary, Rumen Radev said.
Solidarity is a key factor to solve the Corona-crisis globally, Rumen Radev said and added that in a very short time Bulgaria succeeded not only in transforming its industry to produce personal protective equipment, but managed to provide a substantial part of this production to 12 countries from the Western Balkans and Eastern Europe. In his statement the President noted that the 2030 Agenda for sustainable development should remain our roadmap for the future development.
The event on financing for development in the era of COVID-19 and beyond is organized by the UN Secretary General, the Prime Ministers of Canada Justin Trudeau and Jamaica Andrew Holness, who took part in the virtual forum. State and government leaders from the whole world also took part in the event, and also representatives of international institutions and organizations, among which EC President Ursula von der Leyen and IMF Managing Director Kristalina Georgieva.