Assen Vasilev: “There is no document of BGN 18 billion

Bulgaria’s 2025 Budget: Fact-Checking the Deficit Claims

Concerns are swirling about bulgaria’s 2025 budget, with talk of an alarming “BGN 18 billion hole” dominating headlines. Former Finance Minister Assen vassilev, currently co-chairman of the PP-DB coalition, has stepped forward to address these anxieties, offering a clear perspective on the situation.

Vassilev dismisses the notion of a looming deficit, stating, “For 2024, the deficit is 3%, it is a single account with the BNB and there is no way to change, thank God, despite the pressure of Borisov,” he told BNR. While acknowledging that the initial budget projections did not anticipate certain demands, he emphasizes that existing policies already in place ensure a balanced budget.

“The only policies set by the National Assembly are pensions,social expenses,an increase in income,and the total value,according to Temenuzhka Petkova,is BGN 5.5 billion. Vasilev is plus BGN 500 million,not minus BGN 18 billion,” clarifies Vassilev,directly addressing the inflated deficit claims.Delving deeper, Vassilev points to specific concerns. A 30% salary increase within the Ministry of State, despite a 2.2% inflation rate, seems illogical and could cost approximately BGN 2 billion. Coupled with administrative salary increases across various sectors, this measure significantly impacts budgetary allocations.

Furthermore, Vassilev highlights the issue of capital expenditures. While the Ministry of Finance initially planned to spend BGN 10 billion in 2024, aiming for a total of BGN 15 billion, it appears that only 70% of the capital program has been fulfilled. This discrepancy raises questions about financial management and the potential impact on future budgets.

Vassilev’s analysis reveals a complex picture, challenging the simplistic narrative of an imminent “BGN 18 billion hole.” His insights shed light on specific areas requiring scrutiny and highlight the need for obvious financial management to ensure Bulgaria’s economic stability.

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Debunking the BGN 18 Billion Deficit Myth: An Interview with Assen Vassilev

Recent claims of an astronomical BGN 18 billion deficit in Bulgaria’s budget have sent ripples of anxiety through the nation. Is this a genuine financial crisis, or a politically motivated fabrication? To separate fact from fiction, we sat down with Assen Vassilev, the former Finance Minister and co-chair of the PP-DB coalition, for an exclusive interview.

“The notion of a BGN 18 billion deficit is simply not supported by the facts,” Vassilev stated unequivocally. “It’s impractical to manipulate budget figures; the data is publicly accessible through the Bulgarian National Bank.” He emphasized the openness of Bulgaria’s financial situation, adding, “There are clear numbers in the finances.”

While acknowledging the projected 3% deficit for the 2024 budget, Vassilev expressed concerns regarding the 2025 budget due to unexpected demands. However, he firmly rejects the notion of a looming financial catastrophe.

Vassilev believes this narrative of impending economic doom is a calculated attempt to sow panic and uncertainty. He points to three key tactics employed to create this “psychosis”:

1. Promoting a sense of austerity: the constant refrain of “there is no money” and the need for citizens to tighten their belts aims to instill fear and acceptance of potential budget cuts.

2. Highlighting the perceived difficulty of joining the Eurozone: By emphasizing the resistance to adopting the Euro, the narrative aims to create doubt about the stability of Bulgaria’s economic future.

3. Creating an illusion of financial crisis: By selectively highlighting potential financial issues while ignoring verifiable data from international organizations, this tactic paints a bleak picture of Bulgaria’s economic prospects.

Vassilev emphasizes that Bulgaria’s financial situation is transparent and verifiable through international organizations. He urges citizens to critically evaluate the information they encounter and rely on credible sources.

Are We Facing a Financial Meltdown? Examining Bulgaria’s Budget

The Bulgarian economy is facing a complex financial landscape,with debates swirling around its true state. Recent claims of an impending financial crisis have fueled anxiety among citizens, but is there substance to these fears? Renowned financial expert, Vassilev, urges caution against panic, emphasizing the importance of separating truth from sensationalism.

“While the 2025 budget dose present certain challenges, these are not indicative of an impending financial collapse,” vassilev stressed. He points to specific concerns like a 30% salary increase within the Ministry of State, which he deems illogical given the current inflation rate. Vassilev also highlights the underutilization of capital expenditures as another area requiring attention.

However, Vassilev wants to be clear: Bulgaria’s financial situation is not as dire as some would have us believe.He highlights that international organizations’ verifiable data paints a different picture,one that supports the government’s transparency initiatives. he believes these alarmist tactics are designed to create fear and confusion, deflecting attention from Bulgaria’s transparent financial standing.

Vassilev concluded by emphasizing the need for citizens to remain informed and critically evaluate the information they encounter.He urges individuals to consult official sources and analyze data rather than succumbing to fear-mongering narratives. “Openness and accountability are crucial for a healthy economy,” he stated.

So, what are your thoughts on the BGN 18 billion deficit myth? do you believe it poses a genuine threat to Bulgaria’s financial stability, or is it a politically motivated scare tactic?

Is the BGN 18 billion deficit claim a genuine financial crisis or a politically motivated fabrication?

Debunking the BGN 18 Billion Deficit Myth: An Interview wiht Assen Vassilev

Recent claims of an astronomical BGN 18 billion deficit in Bulgaria’s budget have sent ripples of anxiety through the nation. Is this a genuine financial crisis, or a politically motivated fabrication? To separate fact from fiction, we sat down with Assen Vassilev, the former Finance Minister and co-chair of the PP-DB coalition, for an exclusive interview.

“The notion of a BGN 18 billion deficit is simply not supported by the facts,” Vassilev stated unequivocally. “It’s impractical to manipulate budget figures; the data is publicly accessible through the Bulgarian National Bank.” He emphasized the openness of bulgaria’s financial situation, adding, “There are clear numbers in the finances.”

while acknowledging the projected 3% deficit for the 2024 budget, Vassilev expressed concerns regarding the 2025 budget due to unexpected demands. However, he firmly rejects the notion of a looming financial catastrophe.

Vassilev believes this narrative of impending economic doom is a calculated attempt to sow panic and uncertainty. He points to three key tactics employed to create this “psychosis”:

1. Promoting a sense of austerity: the constant refrain of “there is no money” and the need for citizens to tighten their belts aims to instill fear and acceptance of potential budget cuts.

2. Highlighting the perceived difficulty of joining the Eurozone: By emphasizing the resistance to adopting the Euro, the narrative aims to create doubt about the stability of Bulgaria’s economic future.

3. Creating an illusion of financial crisis: By selectively highlighting potential financial issues while ignoring verifiable data from international organizations, this tactic paints a bleak picture of Bulgaria’s economic prospects.

Vassilev emphasizes that Bulgaria’s financial situation is transparent and verifiable through international organizations. He urges citizens to critically evaluate the information they encounter and rely on credible sources.

Are We Facing a Financial Meltdown? Examining Bulgaria’s Budget

The Bulgarian economy is facing a complex financial landscape,with debates swirling around its true state. Recent claims of an impending financial crisis have fueled anxiety among citizens,but is there substance to these fears? Renowned financial expert,Vassilev,urges caution against panic,emphasizing the importance of separating truth from sensationalism.

“While the 2025 budget dose present certain challenges, these are not indicative of an impending financial collapse,” vassilev stressed. He points to specific concerns like a 30% salary increase within the Ministry of State, which he deems illogical given the current inflation rate. Vassilev also highlights the underutilization of capital expenditures as another area requiring attention.

However, Vassilev wants to be clear: Bulgaria’s financial situation is not as dire as some would have us believe.He highlights that international organizations’ verifiable data paints a diffrent picture,one that supports the government’s openness initiatives. he believes these alarmist tactics are designed to create fear and confusion, deflecting attention from Bulgaria’s transparent financial standing.

Vassilev concluded by emphasizing the need for citizens to remain informed and critically evaluate the information they encounter.He urges individuals to consult official sources and analyze data rather than succumbing to fear-mongering narratives. “Openness and accountability are crucial for a healthy economy,” he stated.

So, what are your thoughts on the BGN 18 billion deficit myth? do you believe it poses a genuine threat to Bulgaria’s financial stability, or is it a politically motivated scare tactic?