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Nikolay Vassilev: The whole country is like a stuck elevator

Expenditures must fall to levels below 40% of GDP

Jan 30, 2025 18:17 62

Nikolay Vassilev: The whole country is like a stuck elevator  - 1

There is a big problem with the budget, but the one with the deficit in the heads of politicians is bigger than it. This opinion was expressed in an interview with "Face to Face" Nikolay Vassilev - former Deputy Prime Minister and Minister of Economy.

"The whole country is like a stuck elevator. For several years, we have not been doing anything positive as a society. We are only dealing with the budget swamp," he expressed regret.

"I wonder if the deficit in the treasury is the bigger problem, or the one in the heads of politicians. There is no reason why the deficit should not be in surplus. There is neither a mathematical nor an economic reason for this. Why is 90 billion not enough for the political class? After 2021, they were zombied that it is good to spend in extraordinary amounts. The deficit is in the political will, not in the mathematics," the former Minister of Economy is categorical.

He added that spending must fall to levels below 40% of the gross domestic product (GDP). "The state administration and the entire public sector can be significantly reduced. Between 15 and 3% in three days. The administration will work much better if it is smaller and there will be over 90% public support for such a measure. If there is political will, 30,000 people - in no time. Come on", urged Nikolay Vassilev.

"I do not agree that civil servants are feudal peasants who are owned by some party that appointed them. With these deficits in the labor market, they will immediately find a much better job in the private sector. I wish them that," he added.