"The Central Bank has a specific mandate and we at the BNB strive that this mandate not expands - all exotic ideas of adding powers that can extend the mandate are redundant. Economic development is driven by a data-driven approach. We have developed capacity regarding the development of the Bulgarian economy, and the forecasts we make turn out to be close to reality and help us in making decisions," said BNB Deputy Governor Petar Chobanov during the business forum "Finance: Equations and Solutions", organized from Bulgaria ON AIR and Bloomberg TV Bulgaria.
According to him, keeping the budget deficit close to 3%, the question remains whether we will be able to preserve it.
"We continue to maintain high buffers necessary for stability. This year, we have also taken measures aimed at borrowers in view of the situation in the real estate market and some growth rates that may be outside the notions of stability, Chobanov added.
"We have risks that this 3% will be violated next year and we will fall into a situation of excess deficit. We must avoid this situation. The minimum wage situation definitely creates far more risks than it solves. The balance in the pension system must be restored," explained the guest.
Chobanov is adamant that the inflation forecasts at the end of the year show that the criterion for the euro can be met, but with the current political situation it remains to be seen whether it will be enough.
He emphasized that the investments are related to the general development of the financial system in European terms, but we must first see if there will be an adopted budget and then try to make things look more reasonable.