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MEP from GERB broke down BSP's theory of BGN 10 billion blank cheque

BSP's theory of BGN 10 billion blank cheque has been broken into fluff and powder with simple arithmetic, said GERB MP Alexander Ivanov during the debate on the budget update.
“Today in the Budget Committee we discussed earlier the parameters of the proposals of the Council of Ministers for amending the state budget for 2020 and given the global crisis emerging economic and Bulgaria in the revenue side of the budget it is normal for these proposals to be considered by the National meeting.

Here, I find the bewilderment of the widespread misunderstanding of how state finances work and what the function of the budget and the state is over its revenue and expenditure policy.

It is normal with less revenue in the budget for this year due to objective reasons, which we will all witness, if not now, then soon, to talk about a budget deficit”, explained Ivanov further.

"Colleagues on the left, I explain to myself why your government is always characterized by not so successful financial development of the state and the Bulgarian citizens, not to say a heavier word. You have general misunderstandings, which are surprising to me when you speak and are experts in the budgetary sphere and in terms of finance, what is the function of the budget,” he said.

"Firstly, honourable colleagues, simple arithmetic shows that we can't talk about 10 billion blank cheque here. You mentioned it several times, you could not even make the simple bill and other Members from parliamentary groups had to do so. 10 billion when making a new commitment to government debt, when 2, 2 billion we have in the budget that we voted at the end of last year, then it is not 10 billion new debt, and 7, 8", explained Ivanov further.

According to him, the BSP's other misunderstanding about the state budget is that the state and the budget cannot be exceeded and spent by the Council of Ministers with any lev on top of the vote by the MPs.

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