§ Clare Short
We have not made estimates. The IMF has estimated the output in the six most affected countries of the region, including Bulgaria and Romania, has been reduced by 2 per cent. in 1999, and that budget and current account deficits have been significantly increased. The international community has pledged a total of $1,372 million to bridge Bulgaria and Romania's estimated funding gaps in 1999.
We have budgeted a total of £8 million for Bulgaria and £12 million for Romania, in bilateral assistance, over 1999–2000 and 2000–01. We also provide our share of multilateral aid to both countries through the EU and the International Financial Institutions.