Financial and business news from Bulgaria

Simeon Djankov: Another 3 to 5 billion levs should enter the business

“The next 2021 will not be any easier than this year. From now on you need to think about more money and measures for business”. This is what former Finance Minister Simeon Djankov said in the broadcast “This Morning” on BTV. According to him, there were many social measures in the new budget that helped, but there was not enough for business.
The former finance minister announced his thesis for the first time in 24 hours.

See his interview TUK

“We will enter the new year and it will happen that more and more money will be given next year and the new government will have to change the budget already in April. Another 3 to 5 billion levs should enter as an additional aid to the business”, according to Djankov. There should be thought from now on about increasing the rates under the measure 60 to 40, and even if salaries were fully borne by the state.

In this budget there are no buffers for the third or fourth wave of COVID, it is better to foresee money from now on and if not necessary they will not be used, says Djankov. According to him, BGN 3 billion allocated to the military should be transferred to health and if another 1-2 billion loans were to be taken. From now on, the buffers had to be built and they were clear.

I have no worries about entering into a debt spiral, the EU gives good lending opportunities, according to the former finance minister. According to him, infrastructure projects with EU money should be prepared faster.

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