The 2027 Budget fails to contain debt growth, while the explanation that “the truck is damaged” is one of the government’s obvious lies. Nikolay Denkov of “We Continue the Change” said this on bTV’s “This Saturday and Sunday.”
“Just a few months ago, we were told that this government’s first real budget would be in 2027,” Denkov said. In his words, those in power can no longer blame previous cabinets. He identified Galab Donev as the person holding the wheel of government who can change course.
Dispute over the level of debt
Denkov recalled that until 2024, budgets had ended with a deficit of less than 3%, while loans had been two and a half times smaller than they are now. According to him, over a period of four years, the debt-to-gross-domestic-product ratio had remained unchanged, and Bulgaria had had the lowest debt in Europe.
“It is the responsibility of those in power to stop blaming their predecessors, take hold of the wheel and apply the brakes where necessary,” he said. Denkov linked the growth of external debt to the policies of the governments in 2025 and 2026, saying that according to the forecast he cited, the indicator could reach 37% of GDP over the next two years.
The Finance Ministry’s official estimates differ with regard to the specific indicator. The medium-term budget forecast envisages external government debt reaching 27.4% of GDP in 2027 and 30.3% in 2028. For total government debt, the forecast is for 33.2% of GDP in 2027 and 35.2% in 2028. The ministry presents the 2027 Budget bill as a framework for limiting spending, reducing the deficit and cutting new debt.
Warning for small businesses
Denkov also emphasized the lack of a crisis package for businesses. He recalled that in 2021–2022, measures had been introduced to limit electricity prices for companies and ensure faster gas supplies because of the pandemic and the energy crisis.
According to him, small and medium-sized enterprises could now come under severe pressure when they receive their electricity bills. “In a few days, when small and medium-sized businesses receive their electricity bills, they will see that they cannot make it through the winter,” Denkov said, asking whether those in power would help these companies get through the difficult period.
Sources: btvnovinite.bg