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Economist Prof. Garabed Minasyan criticized the Bulgarian government on BNT, pointing out that it has failed to comply with legal deadlines for budget submissions. He noted that the draft budget should have been presented by October 31, and that the Ministry of Finance has yet to provide a report on the execution of the previous month’s budget. “How can we allow our elected officials to act without accountability?” Minasyan asked, emphasizing the importance of enforcing fiscal discipline.
Banker Levon Hampartzumyan stressed that joining the Eurozone does not protect a country from poor financial management. He warned that repeated deficit budgets reflect weak fiscal governance, noting that the 3% deficit threshold should serve as a permissible limit rather than a target. “We should not confuse Eurozone membership with immunity from mismanagement,” Hampartzumyan said.
Minasyan also highlighted broader budgetary shortcomings, questioning why Bulgaria’s inflation is outpacing the European average and pointing to the absence of detailed analyses or forecasts from the Ministry of Finance. He added that the budget shows a significant outflow of Bulgarian capital abroad, exceeding 9 billion euros, not accounting for unreported transfers.
Hampartzumyan concluded by urging the government and parliament to recognize that while some aspects of fiscal policy can be adjusted, there are fundamental rules that must remain intact. Without adherence to these principles, financial management risks undermining economic stability and public trust.
Source: BNT
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