Government Accused of Draining Reserves: Borissov Raises Alarm Over Billions Spent

Politics | April 10, 2024, Wednesday // 10:41
Bulgaria: Government Accused of Draining Reserves: Borissov Raises Alarm Over Billions Spent

The leader of GERB, Boyko Borissov, has raised concerns over the depletion of Bulgaria's fiscal reserves in the final days of the regular government's administration. Borissov's remarks come in response to Acting Finance Minister Lyudmila Petkov's revelation that the fiscal reserve stands at 6.680 billion BGN, significantly lower than the previously announced by Asen Vassilev 9.900 billion BGN.

According to Borissov, the drastic reduction in reserves is indicative of mismanagement by the outgoing government in which Vassilev was finance minister, resulting in the depletion of several billion BGN. He emphasized the importance of maintaining ample reserves to ensure financial stability and meet the state's obligations effectively.

Borissov congratulated the decision to retain Rumen Spetsov as the director of the National Revenue Agency (NRA), asserting that his presence is crucial for addressing the financial challenges ahead. He warned that without sufficient reserves, critical sectors such as municipalities and energy could face severe financial constraints.

However, the allegations of missing billions were met with skepticism by some lawmakers. Stoyu Stoev of "We Continue the Change-Democratic Bulgaria" dismissed the claims as speculation, citing former finance minister Asen Vassilev's stance that reserve levels are typically assessed at the end of the month.

The controversy surrounding the fiscal reserve underscores the broader economic challenges facing Bulgaria's new government. As the country grapples with fiscal uncertainty and looming financial pressures, policymakers face the daunting task of restoring confidence and stability in the nation's economy.

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

Politics » Be a reporter: Write and send your article
Tags: Borissov, reserve, Bulgaria, finance

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