"A budget update is only necessary when the revenues are going so badly or the politicians are so deep into populism".
This was stated by former Finance Minister Milen Velchev on the air of BTV.
" Bulgaria can enter the Eurozone depending on the level of inflation and the government regardless of who it is. There is no problem for Bulgaria to become a member of the Eurozone during an interim government, if there is sufficient desire and political will", he further explained.
According to him, what can be done in order for Bulgaria to enter the Eurozone more quickly is to observe budget discipline, restructure expenses, and achieve a lower budget deficit than is stipulated in the budget.
"If the rulers are to be blamed for inflation, it is the excessive budget expenditures in recent years," Velchev believes.
"There must be a stable government, with a horizon of at least one year, why not 4 years, and then Bulgaria's partners will know that what the government says, such as adopting the euro and entering the eurozone, will be fact going forward. If we want to remain in the periphery like Poland, the Czech Republic, Hungary or Romania, this is also technically possible, but it is not the best option for Bulgaria," he said.
He believes that we are facing hard times and "some form of financial crisis in the Eurozone", stemming from the poor fiscal condition of a number of countries experiencing political crisis. There are also financial storms ahead, which may also affect us, Velchev also said.