Bulgaria Budget Buffers Work for Now

Business » FINANCE | June 3, 2009, Wednesday // 10:45
Bulgaria Bulgaria Budget Buffers Work for Now: Bulgaria Budget Buffers Work for Now The buffers will be effective until the middle of 2009, because the spendings are increasing, and the incomes in the budget are going down. File photo

The budget buffers are keeping the Bulgarian budget from the negative effects of the growing gap between the state's income and expenses.

This was announced Wednesday by the economist, Georgi Angelov, in an interview for the Bulgarian National Television (BNT).

However, the buffers will be effective until the middle of 2009, because the spendings are increasing, and the incomes in the budget are going down, Angelov explained.

On the other hand, Yosif Avramov, economist, university teacher, and an expert in the Parliament Committee on Budget and Finance, says that there is nothing to worry about.

In his words, there is a budget surplus of BGN 500 M, the deficit has decreased by BGN 100 M, and the budget incomes in May increased. Avramov expects a budget deficit of 1% until the end of 2009.

Angelov, though, thinks there are a lot of risks, because in the next couple of months the government will be acting without Parliament supervision, and no free moves should be allowed.

"It is unclear what the next government will be. It is vital that a policy of lowering insurance rates, opening new jobs, and limitation of unnecessary public expenses be followed", Angelov said.

 

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Tags: budget, Global Financial Crisis

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