site.btaNikolay Denkov Calls for Urgent Budget Planning Amid Global Economic Uncertainty and Rising Living Costs

Former prime minister and Continue the Change deputy leader Nikolay Denkov has called for the rapid preparation and adoption of a stable state budget, warning that rising global tensions are already affecting Bulgarian households and the economy, Continue the Change-Democratic Bulgaria coalition quoted him as telling TV1 on Monday. 

Denkov said people across the country are increasingly worried about future expenses and declining incomes, as global instability, particularly the escalation of conflict involving the US and Iran, pushes up economic uncertainty, especially through its impact on energy markets and shipping routes such as the Strait of Hormuz.

He stressed that Bulgaria must prepare in advance for the economic consequences of international crises, rather than reacting after they hit citizens. He recalled the 2022 energy shock following Russia’s invasion of Ukraine and said similar protective measures are now needed for vulnerable groups, businesses, and pensioners.

Denkov outlined proposed measures, including returning excess profits from energy companies to compensate businesses for high electricity prices, raising the VAT registration threshold, and expanding tax relief for families with children. He argued these steps could support those in need without harming the state budget or economy.

He also criticised past economic policies under GERB-led governments, claiming they contributed to long-term stagnation and increased poverty in Bulgaria.

On election integrity, Denkov supported recent Interior Ministry actions against vote-buying, stating that stronger enforcement helps deter electoral fraud and should continue regardless of political affiliation.