Socialist Leader Stanishev Slams Bulgaria Budget 2013

Business » FINANCE | October 28, 2012, Sunday // 13:26
Bulgaria: Socialist Leader Stanishev Slams Bulgaria Budget 2013 PES and BSP leader Sergey Stanishev. Photo by BGNES

Bulgaria's draft state budget for 2013 tabled by the center-right GERB cabinet is inept and opens no new perspectives for the country, argued Bulgarian Socialist Party and PES President Sergey Stanishev.

At a press conference Sunday, Stanishev presented the Bulgarian Socialists' alternative draft budget which he said formulates clear priorities and stimuli for Bulgaria's development.

"The cabinet's draft budget for 2013 largely repeats budgets from last years and will lead to no palpable positive results," argued the socialist leader.

"In spite of talks about spending cuts, the GERB cabinet has spend BGN 17 B more than the previous cabinet headed by me. Why is there no money to stimulate business and help the most vulnerable?" asked he.

Stanishev described the forcasted growth of 1.9% for 2013 as both meager and unrealistically high given trends.

"The key priority in our alternative draft budget is economy and employment," said he.

Stanishev also added that the cabinet's promise to raise retirement pensions just ahead of elections next summer is insulting, as the last minute raise does not even cover accumulated inflation.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: state budget, spending cuts, GERB, PES, Sergey Stanishev, Bulgarian Socialist Party, economy, growth, employment, elections, pensions
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria