Kostadin Kostadinov said at a briefing that with the rotation of the Speaker of the National Assembly, one Peevski's man is replaced by another Peevski's man. He said that the “Vazrazhdane“ group will not support any of the draft budgets that are about to be presented, but will make its own proposals. He also said that the ruling party “is selling the future of Bulgaria“ by preparing the state budget through new loans in order to “buy time until the presidential elections“. According to him, the only way for the government to maintain financial stability is through “huge loans“, which will burden the country with debts while the economy weakens and exports are reduced mainly to raw materials.
“Our state is in a state of pre-bankruptcy, in the process of extremely rapid indebtedness. We are the third in terms of debt growth in the European Union and since we do not have our own economy, we simply have cash flows passing through us, which temporarily find a haven in some Bulgarian bank.“, said the chairman of “Vazrazhdane“.
He predicted: “Now Bulgarian banks will be emptied of content, because when the currency board ceases to operate from January 1, their reserves, which according to the rules of the board were supposed to be 12%, will now fall to 1% – according to the rules of the eurozone“.
Kostadinov explained that this means that suddenly large cash flows will come out, without remaining on the market in Bulgaria, but will be invested abroad – in other European countries. “Since the interest rate is still more favorable with us, at some point it will turn out that Bulgarian banks will also be decapitalized. And God forbid that our extremely fragile and very unimpressive economy starts to get a boost“, said Kostadinov and predicted: “The biggest nightmare we can imagine will await us – the perfect financial storm. And all this so that from January 1, Bulgaria can pay with the shitcoin currency, as Stoyan Panchev calls it“, said the chairman of “Vazrazhdane“.
He specified the quoted name: “This is probably the best Bulgarian financier, whose name has been mentioned many times by us when we have commented on this case, but who, unfortunately, does not find much reception from, let's say, the larger media – not to call them casionary“.
Clarifying that the budget is still a fiction at the moment and it is not certain whether it will be presented by Friday, he was categorical: “There will be huge indebtedness! We can only predict its scale, but at the moment we are indebted by 52 million leva per day. It is expected that next year we will be indebted by 70 million – it may not be that much, but in no case will it be less than this year's amount, because the budget cannot be tied up without a loan. In reality, we have already entered a debt spiral“, said Kostadinov. “And the end of the debt spiral, as written in the textbooks on finance and economics, is only one – bankruptcy!“, he added.
He disputed the claim of the ruling party that this has happened because of the bad financial policy of Asen Vassilev, emphasizing that at that time the government was shared with GERB and called for this responsibility to be shared between PP–DB, GERB and DPS.
According to Kostadin Kostadinov, there must be cuts in the administration. “Because if we want to keep the level of salaries as they are at the moment, with obvious inflationary pressure on the economy and a decline in revenues, including foreign investments, the only way is to have cuts. Otherwise, salaries will fall“, he said.
Asked about the rotation of the parliamentary chairmanship, Kostadinov said: “We are the last people who will defend Kiselova, but what the BSP did to her was very shameful, very unclean, shameful! The BSP threw her out like a doormat and perhaps what she did today was an attempt to get out of the situation with at least some honor intact. Because she was betrayed by everyone – including her own party. What she read today, hardly anyone will remember.
The truth is that we simply replaced one of Peevski's people with another of Peevski's people – Raya Nazaryan.“, summed up the chairman of “Vazrazhdane“ Kostadin Kostadinov.