Bulgarian Right Wing: GERB Follows Communist Trends

Bulgarian right-wing leader, Martin Dimitrov, says the GERB cabinet would need to ask for large loans, matching only the borrowing during the rule of Communist Dictator, Todor Zhivkov, before 1989. Photo by BGNES

The Bulgarian right-wing leader, Martin Dimitrov, warned Tuesday the 2011 budget deficit would again end up being over 3%, similarly to 2010.

Dimitrov, who is the leader of the Union of Democratic Forces (UDF), said there is no way the cabinet will be able to stick to the 2.5% forecast and under 3% as the European Commission mandates. Dimitrov further predicted by the end of its term the cabinet of the center-right Citizens for European Development of Bulgaria (GERB) will have to borrow over BGN 9 B in order to fill the budget gap.

The right-wing leader pointed out no cabinet so far, in the 20 years of transition since the fall of Communism, had the need to ask for such staggering loans, adding similar borrowing only occurred during the rule of Communist Dictator, Todor Zhivkov, before 1989.

Dimitrov made the statements two weeks after UDF proposed the establishment of a fiscal board to watch over the budget deficit and stop it from going over 3%.

According to the right-wing, the 2011 budget balance would be very fragile and the looming large deficit would trigger mass protests all over the country.

The biggest problem next year would be unemployment, while problems in the education and health care sector would continue to deepen, according to Dimitrov.

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