The (anti) crisis measures of the government
After weeks of uncertainty whether the government of Bulgaria had an exit plan for the crisis (of the budget), on Wednesday, at last, the cabinet announced 60 anti crisis measures. In this topic here we will gather the opinions of experts about how useful and reasonable these measures are and what problems do they solve.
| © euinsideA tendency towards an increase of social payments
No matter the measures the Bulgarian government is undertaking with the amendments of the Social Insurance Code, the tendency is towards constant and significant increase of budgetary spending for social payments. According to data of Industry Watch, the expenses in the consolidated budget (with ...
| © euinsideBrussels: reduce the deficit by 2011 and avoid deterioration in 2010
The European Commission announced Bulgaria had an excessive budgetary deficit for 2009 and moved forward to the next phase of the excessive deficit procedure. The assessment is based upon the data provided by the Bulgarian authorities in April 2010 and verified later by Eurostat. According to th ...
| © euinsideA surplus for April but still a large fiscal deficit for 2010
The fiscal deficit of Bulgaria this year has reached 1.299 bn levs (0.666 bn euro) no matter the fact that the Ministry of Finances reported surplus for April of 369.6 mn levs (189.53 mn euro). The deficit in the national budget is worth 958.4 mn levs (491.48 mn euro) and on the European funds i ...
| © euinsideThe revision of the budget is legalizing the huge fiscal deficit
Quite strong words used the economists from the Institute for Market Economy Svetla Kostadinova, Petar Ganev and Dr. Richard Ran to explain the government's intentions to revise Budget 2010. They said that the government is on its way to officially abandon reason in its fiscal policy and the cha ...
| © Adelina Marini | www.euinside.euThe government is planning to spend the fiscal reserve?
On May 5th the government surprisingly announced that it is filing in Parliament a draft legislation, aimed at changing Budget 2010. Then, as euinside wrote, the news raised more questions than made this very important issue clearer. A week later the plans of the government continue to be covere ...
| © euinsideBoyko Borissov: Brussels will not be anrgy about the deficit. What about us?
What is the budget? First of all it is a law. Secondly, this is the law regulating revenues and spending, the way taxpayer's money is being managed by the government, sealed and approved by the National Assembly. To put it simply - the budget is a commitment and a responsibility. If you have mad ...
| © euinsideShow me the money!*
While I was waiting for the press conference in the Council of Ministers to begin, I received an e-mail from DG ECFIN of the European Commission. The letter properly informed me that Commissioner Olli Rehn's briefing will start any moment (live streamed on the website of the Commission), who wil ...
| © Adelina Marini | www.euinside.euThe budget has already been reviewed by taxpayers
The government has to finally take its political responsibility and decide what part of the spending it should reduce in order to avoid a debt crisis, commented for euinside the economic analyst and managing associate in Industry Watch Gheorghi Stoev, regarding the announcement of the prime mini ...
| © Eropean Commisson-Audiovisual ServiceThe deficit rose by 271 mn for a month and is now over 1 bn
The budgetary deficit for the first three months of the year has reached 1 bn 669 million levs (855 mn euro). Only for March the fiscal deficit is almost 271 mn levs (138.9 mn euro), the data about the implementation of the Consolidated Fiscal Programme for the first quarter of 2010 show. The da ...
| © Министерски съвет на Република БългарияThe government is reviewing the budget tomorrow
At its tomorrow meeting the government will decide on reviewing Budget 2010. This is what came out from a statement of the prime minister on the EBF television on Monday morning. Responding to a question about the new anti crisis measures, Mr Borissov said: "On Wednesday, after the Council of Mi ...Gheorghi Anghelov: Measures that lead to spending cuts are good ones
Good measures are those directed to spending reduction, financial discipline, prevention of leaks, privatisation, reforms and improvement of public services. The increase of the capital of the state Bulgarian Development Bank is senseless and a harmful measure. This is the opinion of the senior ...
| © IMEIME for Bulgarian government measures: insufficient cost cut, insanity on the labor market
The government's crisis measures are not tailored to fit in the budget hole and cannot not fill it, according to the economists from the Institute for Market Economy. In their analysis of the 60 measures they commented that they are much broader than expected. In this sense the document "lost it ...
| © Georgi StoeffGheorghi Stoev: There is no need of 60 measures but just 1
The only useful measure to help end the budget crisis currently is spending cuts with a concrete percentage. This is what Gheorghi Stoev replied to the questionnaire euinside* sent him with regard to the anti crisis measures of the government, released this week. Gheorghi Stoev is managing assoc ...
| © euinsideMore questions than answers
The way the government is tackling the budgetary deficit, claiming it is tackling the crisis, resulted this week in a package of 60 anti crisis measures which caused more questions than provided answers. We, from euinside, are disappointed of the way the government and the social partners announ ...
| © euinsideThe Bulgarian budgetary deficit is reaching a billion and a half levs
Only for the first two moths of the year the budgetary deficit has reached 1.4 billion levs (0.71 mn euro), according to the data of the Bulgarian Ministry of Finance by the end of February. The information shows a slowdown of budgetary revenues, mainly in the proportion of tax revenues. The Min ...
| © euinsideCrisis weights and measures
60-50-8. These are not the measures of a newborn baby, but the balance of achievements of the National Council for Trilateral Cooperation (NCTC, where the government, the Trade Unions and the Business gather together). The finance minister Simeon Dyankov counted: 59 anti-crisis measures (plus on ...
| © euinside