We’re management . . .

. . . And answerable to you, being the shareholders!

The setting in a 5-star hotel mirrored the typical shareholders’ meeting of a Fortune 500 company. The business leaders were in awe: “Is this my country, really?” The new Bulgarian prime minister was reporting to the business community the progress of his first 100 days.

“We inherited a debt-ridden enterprise but I’m happy to report to you that in October we already registered a surplus. Efforts to raise revenues and reduce spending have begun to bear fruit. We have a mountain to climb but we’re scaling it with great resolve.

Foreign direct investment in 2009 is down 50% to Euro 3 billion, but excise tax collections from the grey economy are substantially up – with the linking of the databases of the Revenue agency and the Customs agency. Imports are down as exports. But efficient government administration is well underway; we are moving beyond the 15% reduction in government personnel – following the findings of a private auditing firm we retained and the vetting process we developed.” (This is what love of country is about – the greater good takes precedence? Or is it anathema to our culture of compassion and inclusion?)

More than half of the ministers are unknown to me – they were hired on the strength of their credentials, whether from the World Bank or private business. And they have a common understanding of how their engagements can end. And that is, even one euro of unexplained income will get them out the door.”

We’re running the administration like an efficient business enterprise. We came across 1000 proposals for renewable energy projects that were not even touched by the previous administration. In a matter of weeks we had contacted all the proponents and advised half of them that we would proceed with their projects, and prioritized them accordingly. Our goal is 16% green energy by 2020. And to accelerate and ensure execution, we’re delegating authority to the local government. We hired the Environment minister precisely because beyond her technical expertise, she’s a very efficient manager. She would make the local government play by the rules.”

You want to hear about corruption: We agreed with the EU that over 200 road projects were ridden with corruption and must stop. We’re losing the EU counterpart funding but that is the price of corruption. We have prosecuted the guilty parties and you know where they are today – the newspaper hosting this forum has been reporting on this.”

We are continuing to attract foreign investments because they see that we have the political will to fix the country. We are stepping up efforts to make doing business with us a pleasant experience and registering businesses like a breeze. We are also reducing payroll taxes. We’re working with Parliament to streamline the privatization of government assets; our best brains are deeply engaged with them.”

What you can do for your country? Pay your taxes and tell the rest of the business community to do as well. Our foreign exchange reserves are healthy and our currency is stable. Whatever else you need from us, you can expect a professional response delivered urgently. We’re in this together!”

Over the Q&A the business leaders were simply blown away. As they left the forum, the air of optimism was palpable. These are ex-socialists, new to democracy and capitalism, doing problem-solving not spinning wheels!