Radev: "There is no money in the treasury" – we are preparing a budget with higher collection rates and budget cuts

"There is no money in the treasury." With these words, Prime Minister "Rumen Radev" described the country's financial state to journalists in "Shumen". He clarified that a "regular budget," on which the government is working intensively, is expected to be presented by the end of the month.

"The situation is very complex. There is no money in the treasury. All accounting tricks have already been exhausted by previous governments and cannot be applied," the Prime Minister stated. According to him, the cabinet is acting in parallel "in two directions" – "increasing revenue collection" through a package of measures to be announced when the budget is presented, and "limiting expenditures."

Radev emphasized that work on the financial framework is ongoing "almost around the clock." "The situation is extremely complex, work on the budget is happening almost around the clock, all options are being explored so that the deficit can be reduced and we can take on as little debt as possible," he stated, stressing that limiting new indebtedness is a priority.

Commentary on the peace deal between Iran and the USA

The Prime Minister also commented on the announced "peace deal between Iran and the USA." "I expect reason to prevail, because this conflict has a negative impact not only on security but on the economy of all of Europe and the world," Radev pointed out. According to him, the stabilization of the region is key for both global security and European markets and energy supplies.

Reaction to Borisov's criticisms regarding "Botas"

The Prime Minister also responded to criticisms from GERB leader "Boyko Borisov" that the "renegotiation of the agreement with Botas" carries a risk that Bulgaria will become even more energy-dependent. Radev reacted with irony: "Everything that Mr. Borisov says is somehow in sync with the rumors about the black panther that roamed around Shumen, but no one ever saw it, no one ever heard it." With this analogy, he called into question the reality of the claims and presented them as part of political rhetoric.

Visit to Shumen and dialogue with businesses

Prime Minister "Rumen Radev" was in "Shumen" for the official ceremony opening new production facilities at the "Alcomet" plant. During his visit, he emphasized the importance of industrial investment for regional development and jobs.

At the beginning of the month, the Prime Minister held a meeting with representatives of "employers' organizations" in search of "workable solutions" for the economy. During the talks, he stated that the "competitiveness of the Bulgarian economy" is of key importance for the country's sustainable development and that "the Bulgarian government is open to dialogue" with businesses.

Radev pointed out that Bulgaria will insist that funds from the new "Competitiveness Fund" reach "less developed member states" as well, so that the "industrial and technological gap" in Europe does not widen. According to him, this is an important condition for enabling Bulgarian enterprises to remain competitive within the common European market.