European Wage Growth Slows at End of 2023: Bulgaria Outpaces EU Average
Data released by Eurostat reveals a notable deceleration in wage growth across the European Union (EU) and the eurozone during the final quarter of 2023
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
With recovery of the Bulgarian economy are fragile at best and state revenue coming under estimates, all that Bulgaria’s Minister of Finance Simeon Djankov can come up with is a buch of measures that divests the state of responsibility.
What is more worrisome, that comes substantiated by shallow neo-liberalist arguments that have the misfortune of being both untrue and easily absorbed by the Bulgarian public, having a skewed view of what capitalism is about, after 45 years of state-directed economy.
In a move that only add to perceptions of him as one who just wants to sell state assets in order to fill in holes in the budget, without any thought for strategic investment on the part of the state, Djankov said Tuesday to the National TV:
“Any moment is a good one for privatization, for the state is not a good husband and owner.”
Declaring the state a bad proprietor as such can only be manifest ideology. Of course, privatization is in due order for specific cases, but offering such blanket arguments only implies dogmatic thinking.
Then you have the famed Financial Stability Pact currently under review by Parliament that, if adopted, will enshrine in the Bulgarian Constitution provisions that will severely limit the government’s power to lead the economic and fiscal policy of the country.
My point here is not to take the other side on the ideological and somewhat tiring state vs. market debate.
I want to suggest that simply by selling assets, collecting revenue come what may, filling budget potholes, and divesting the government of means to influence and stimulate economic life, one will hardly achieve a significant and sustainable level of economic prosperity.
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If we look at history, there are not many cases in which relations between Bulgaria and Russia at the state level were as bad as they are at the moment.
The term “Iron Curtain” was not coined by Winston Churchill, but it was he who turned it into one of the symbols of the latter part of the twentieth century by using it in his famous Fulton speech of 1946.
Hardly anything could be said in defense of the new government's ideological profile, which is quite blurry; at the same time much can be disputed about its future "pro-European" stance.
Look who is lurking again behind the corner – the tandem of Advent International and Deutsche Bank, respectively the buyer of the Bulgarian Telecom Company in 2004 and the advisor of the Bulgarian government in the sweetest deal of the past decade, seem t
We have seen many times this circus which is being played out during the entire week and it only shows one thing - there is no need of a caretaker government in Bulgaria.
You have certainly noticed how many times President Rosen Plevneliev used the phrase “a broad-minded person” referring to almost every member of his caretaker government.
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