site.btaDemocratic Bulgaria MP Dimitrov: Ruling Majority Setting Bulgaria on Path of Debt Spiral

The ruling majority has no plan for reducing the budget deficit, but it does have a plan for taking on new debt, thereby setting the country on the path to a debt spiral, Democratic Bulgaria MP Martin Dimitrov said in the corridors of Parliament ahead of Tuesday’s meeting of the ad hoc Committee on Budget and Finance.

“We see a huge problem in the proposals that have been made - namely, taking on EUR 3.8 billion in debt. There is no plan for optimising expenditure, no plan for bringing the deficit under control; instead, there is only complaining and going round in circles,” he commented.

According to him, Progressive Bulgaria’s actions in seeking new loans are no different from those of GERB.

“They have no plan to reduce the deficit below 3% this year and below 2.5% next year, as we requested, but they do have a plan for taking on debt after debt. Today they are borrowing EUR 3.8 billion, tomorrow they will take on more debt, because this is not the end - it is the beginning of the debt spiral that these people are starting,” he said.

Dimitrov described the proposal to reduce party subsidies as an attempt to “paper over the situation and prevent people from seeing the main issue”.

According to him, another objective of the proposal is to weaken the opposition, as Progressive Bulgaria will receive subsidies worth billions and therefore the reduction will not be a problem for them. “The problem will be for the smaller opposition parties,” he said.

Dimitrov noted that Democratic Bulgaria proposes introducing a cap on party subsidies and would vote in favour of freezing MPs’ salaries.

“We will protest against every injustice; we have never regretted doing so. We organise the best protests in Bulgaria, and we hope Progressive Bulgaria will give us a reason to stage an even more beautiful protest in their honour,” the MP added.