Bulgaria Faces Summer Collapse - Sofia Mayor

Sofia mayor Boyko Borisov, whose party has been tipped as the likely winner in the upcoming general elections in Bulgaria, forecast a collapse of the state in the summer.

"The Bulgarian state will enter a heavy crisis in August," Borisov told the morning broadcast of private bTV channel on Monday. According to him the currency reserve is currently being drained off "at full throttle".

The mayor expects Brussels to punish Bulgaria for its delay in passing a conflict of interests law by not allocating money for contracts worth EUR 2 B.

"Brussels will not only not give us the money, it will also slap us a fine," Borissov said. "To top it all, off the budget does not envisage money for co-financing and we will see a repeat of the tragedy of the Bulgarian farmers in other sectors. "

"The new cabinet that will come into office in September will find itself cash-strapped, with no money to co-finance projects," Borissov said.

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