Socialists Slam Revenue, Budget 2011

Georgi Kadiev, Socialist MP from the Sofia BSP structure, nicknamed "the Red Yuppie". Photo by BGNES.

The Bulgarian Socialist Party has alternative proposals for the state budget 2011 which claim that state income for the next year should be significantly higher.

Socialist MP and former deputy finance minister Georgi Kadiev stated that the socialists' alternative budget previews some BGN 2.3 B more revenue than what is previewed by the ruling GERB party.

He stated that could be achieved by raising a tad more some social security rates and foremost by upping collectibility of dues.

Kadiev was highly critical of the rates of collectibility for the present year, claiming that even with the budget update, authorities such as customs will finish 2010 with as much as BGN 0.5 B less of revenue.

The socialist MP feared that budget 2010 might perform worse than expected and stressed the need to press on revenue for next year.

Nevertheless, he was skeptical that GERB would introduce radical changes in the draft budget bill between the two readings in Parliament. Budget 2011 will be voted on second reading the coming weeks.

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