'Vazrazhdan'e Will Not Support Next Year’s Draft Budget

'Vazrazhdane' party will categorically not support the draft budget, MP Tsоncho Ganev has said. He argued that the proposed financial framework continues the policies of previous governments and offers no meaningful measures to improve economic conditions or the standard of living of Bulgarian citizens.

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According to Ganev, the budget provides for neither effective measures to tackle inflation and the rising cost of living nor sufficient support for small and medium-sized businesses and family-run enterprises. He described the planned 5% increase in public sector salaries as insufficient in view of inflation.

Another major criticism raised by the MP concerns the planned further increase in government debt. He said the government intends to borrow almost €13 billion in the coming year, with total public debt forecast to reach €47.1 billion by the end of 2027, equivalent to around 33% of GDP.

Ganev also highlighted the planned increase in the taxable values of residential properties, which he said would result in a higher tax burden for property owners. He expressed concern that the proposed changes could lead to substantial tax increases in the coming years.

According to the Vazrazhdane representative, the budget offers no policies to stimulate Bulgarian production and businesses, but instead continues an economic approach that puts the interests of Bulgarian citizens and entrepreneurs in the background.

"This budget offers more of the same – new borrowing, higher taxes and no real improvement in living conditions in the country," Tsоncho Ganev said, stressing that the Vazrazhdane parliamentary group would categorically vote against the draft budget.