IMF Concludes Regular Mission in Bulgaria, Recommends Restoring VAT to Pre-Pandemic Levels
The International Monetary Fund (IMF) has wrapped up its regular mission in Bulgaria
Bulgaria Right Wing Leader Firmly against VAT Hike
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DSB leader, Ivan Kostov, is firmly against VAT increase, saying it is a pro-crisis measure, not an anti-crisis one. Photo by BGNES
The leader of the right-wing Democrats for Strong Bulgaria (DSB), Ivan Kostov, firmly opposes the proposal to increase VAT by 2% for one year.
The Value Added Tax (VAT) increase is going to deepen the crisis instead of alleviating the situation, Kostov believes.
The DSB leader, who is also co-Chair of the right-wing Blue Coalition with the Union of Democratic Forces (UDF), pointed out his party had not been invited by the ruling Citizens for European Development of Bulgaria (GERB) to a discussion about anti-crisis measures. Kostov reminds that those measures must be approved by the Parliament, and in order for DSB to back them up, they must be coordinated with the right-wing, otherwise GERB faces “fire from the left and the right.”
According to Kostov, the Finance Ministry is expected to account for BGN 7.5 B lower revenues than those listed in the Budget Act, along with unpaid amounts to companies for public tenders.
The DSB leader says the hidden BGN 2.15 B deficit is a “real skeleton in the closet,” adding GERB with Prime Minister, Boyko Borisov, and Finance Minister, Simeon Djankov, failed to successfully counter the full scope of the crisis they inherited from the former cabinet
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