Bulgaria at risk of excessive deficit procedure
Ivaylo Mirchev from "Democratic Bulgaria" stated that achieving a 3% budget deficit this year is entirely possible and everything else is just "excuses for a lack of reforms".
"The major goal is to have a 3% deficit this year; everything else is excuses and fear of implementing real reforms," Mirchev asserted.
The comment comes after reports that the European Commission is preparing to initiate an excessive deficit procedure for the country due to poor financial indicators.
DB's proposals for overcoming the crisis:
- Phased withdrawal of pensioners from the Ministry of Interior system;
- Civil servants to start paying their social security contributions like other citizens;
- Digitalization through e-government and reducing the bloated bureaucratic apparatus.
According to Yordan Ivanov, DB has already submitted a package of "right-wing measures" that could prevent the taking on of new state debt and stabilize the budget until 2026.