Bulgarian President Vows to Sign Revised Budget

Bulgaria’s President, Georgi Parvanov, has reservation about the revised budget, but will sign the decree. Photo by BGNES

Bulgaria’s President, Georgi Parvanov, said Friday he will sign the decree about the updated budget, after the Parliament passes it.

Parvanov spoke in an interview for the morning block of the TV channel bTV, saying he will sign the budget because the Prime Minister and the cabinet must be the ones determining the country’s fiscal policy.

The President did, however, speak about his disagreements with PM Boyko Borisov, pointing out he made, as early as September last year, his own proposal how to tame the budget deficit below the 3% required by the EU and slate money for health care, education, and the business.

According to Parvanov, the biggest problem regarding the budget revision is the failure of the cabinet to collect revenues.

The President voiced opposition to the plan to reduce financing for the municipalities, adding some poor ones, in the mountain region would simply become extinct.

Parvanov spoke about his suspicions that the cabinet of the center-right Citizens for European Development of Bulgaria (GERB) party singles out some municipalities in order to make political gains.

“It does not matter what party the mayor comes from. The only mayors that are spared the pressure and the constant watch are those from GERB,” Parvanov said.

The President also pointed out he is alarmed that the revised budget dips into the fiscal reserve, and the looming bond sale on international markets.

Parvanov offered his own alternative – using the tools of the National Revenue (NRA) and the Customs Agencies to increase the collection of the revenues.

“The budget revision is not aimed at structural reforms, while the money from the reserve will run out as water in sand to fill the gaps,” the Head of State pointed out.

During the same hour, PM Borisov gave an interview on Nova Televizia TV.

 

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