Kristalina Georgieva, managing director of the International Monetary Fund (IMF), has warned the government in Sofia not to rely on one-off measures to raise more money for the budget.
Bulgaria's budget and deficit were among the topics in her interview in Bangkok. The full interview will air tomorrow on "120 Minutes".
Georgieva says the state should not spend money it does not have. She noted one positive change: the cabinet is ready to propose a budget with a deficit of up to 3%, which means spending of money that does not exist is falling.
But the job is not done, she said. She believes the steps put forward so far to raise revenue are one-off, and it is not clear what the government is doing to cut spending.
The IMF recommends that revenue come from a permanent, systemic source. Only then can the deficit fall for good and the state build buffers, meaning reserves for future shocks.
Georgieva advises against cutting the funds needed to raise labour productivity.
A year ago, she called on those in power not to spend more than Bulgaria produces.