The Bulgarian government’s official letter to the European Commission is one and has clear content. This was stated by political analyst and adviser to Deputy Prime Minister and Finance Minister Galab Donev, Prof. Alexander Marinov, in an interview with BNT.
His comment comes against the backdrop of a public dispute over the correspondence with the European Commission and the proposed redirection of funds from the second pension pillar to the state public social security system. Marinov distinguished between ideas discussed by experts and the decisions included in the adopted budget documents.
“The letter, as we can see from the European Commission’s website, is one and it has clear content,” Marinov said.On November 7, Finance Minister Galab Donev also stated that his official proposal to the European Commission of November 2 did not include a measure to redirect funds from the second pension pillar to the National Social Security Institute (NSSI). According to him, such a proposal is not included in the draft State Budget Act for 2027 either.
The Deficit According to Marinov
Marinov described the current budget as “a budget of coming to one’s senses.” He said that when the government took office in May, it inherited a deficit of 9 billion leva. According to him, the measures in the 2026 budget reduced it to 7 billion leva, while the provisions for 2027 bring it down to 5 billion leva.
He stressed that the deficit could be reduced more quickly, but warned that the price would be unacceptable. In his words, overcoming the difficult financial situation requires a balance between revenues and expenditures, as well as a gradual restriction of non-priority spending.
Marinov said that funds should be directed toward social, industrial and technological priorities. He linked his assessments of the past six years to audit reports by the Bulgarian National Audit Office, which he described as serious.
Inflation, Excess Profits and Possible Protests
According to Marinov, the government can influence inflation by gradually restricting spending and refraining from automatically increasing certain high remuneration levels. He noted that some inflationary processes have external sources, but also pointed to the measures taken against unjustified price increases.
On the issue of taxing excess profits, Marinov said that this is not a “war on the rich.” He said that such a tax is applied in nine European Union countries and that it matters whether profits are reinvested in Bulgaria or transferred to the companies’ headquarters.
Asked about possible protests over the budget measures, Marinov said that the causes and the social basis of the discontent are important.
Regarding European policy, he said that Bulgaria sees its future in the European Union and should contribute to a more restrained course based on diplomatic efforts.
Sources: bntnews.bg