The year 2025 is shaping up to be a turning point not only for Bulgaria, the region, and Europe but also for the world, given the unprecedented acceleration of geopolitical dynamics, This is what President Rumen Radev said during the closing session of the Fifth Edition of the Sofia Economic Forum, the Presidency said on January 21.
"Political and technological changes will continue to offer new opportunities for the progress of humanity. In 2024, democracies demonstrated that they could take advantage of these opportunities by removing unsuccessful leaders, abandoning outdated ideas, and embracing new, well-founded priorities," President Radev further remarked.
The Head of State, accompanied by his wife, Desislava Radeva, was the guest of honour and a speaker at the event, which is organised in Bulgaria by the Delphi Economic Forum.
"The geopolitical security architecture is collapsing, long-established economic models are cracking, recession is settling in key European economies, and technologies are advancing more rapidly," the President stated.
Addressing representatives from institutions, businesses, and diplomats, President Radev emphasized that identifying solutions for Europe requires more than merely pointing out the problems.
"We need to address the root causes of today's condition, not just its symptoms. In this context, we need honest answers to a series of questions, including how the EU has fallen behind in innovation, how it reached the energy crisis, the collapse of competitiveness, and the inability to ensure its own security," Radev pointed out.
President Radev also raised the question of who will take responsibility for the hundreds of thousands of casualties from Ukraine's counteroffensive, which many European leaders encouraged with the utopian assurance of victory over Russia.
"It is also necessary to highlight the reasons that have led to a situation where the collective GDP of the West compared to Russia is 25 to 1, yet Russia produces three to four times more ammunition and military equipment, according to NATO’s Secretary General. Meanwhile, for years, there has been a widespread belief that the Russian economy would collapse, but it is European governments that are falling, and economic sanctions against Moscow are rendered meaningless due to the purchase of Russian energy resources by the countries of the Global South.
At the heart of Europe’s broad spectrum of problems is a crisis in leadership, with two main dimensions—competence and honesty. Competence on strategic issues for Europe, and honesty with European citizens and our partners," President Radev said.
In the context of all the crises and the overblown fears surrounding Donald Trump's inauguration as U.S. president, the Bulgarian head of state noted that Europe should not only take responsibility for its own security but also begin building a dynamic and competitive economy, unify, and take decisive steps forward.
In Rumen Radev's words, the need to increase defence spending should be guided by certain principles and the unification of European states around a comprehensive concept of national security, which requires the development of connectivity, logistics, mobility, and the implementation of high technologies.
The President pointed out that smaller NATO countries, as part of an alliance united by values, should participate equally with others in the development and production of defence products.
"Otherwise, the technological gap between individual countries will widen, and NATO will turn into a market of producers and buyers," Radev added.
Regarding the concerning trends in the European economy and the need for investment, the President said that it is necessary to strike a balance between public funds and private capital, which requires unified markets, a common industrial and financial policy, and the consolidation of Europe's fragile and fragmented capital market.
Europe faces the challenge of whether it will strengthen its role in the geostrategic landscape and whether it will maintain its moral leadership in the areas of human rights, the rule of law, peace policies, and environmental policies. The EU has been a leader in green policies for decades, but we should not lose, rather strengthen, our competitiveness, the President said. Rumen Radev added that the EU should rethink its pro-liberal and pro-market approach against the backdrop of the more protectionist policies of other global players.
The head of state expressed his expectation that Europe will overcome these challenges successfully, but to do so, the EU should deeply reform its governance structure and decision-making mechanisms to be able to act quickly and concentrate significant resources on its strategic ambitions. According to the President, the European Commission's new priorities to promote research and innovation, technology, and achieving Strategic Autonomy are steps in the right direction for economic development and reflect an awareness of the problems.
Rumen Radev also stated that the accession of Bulgaria and Romania to the Schengen Area would provide a positive economic boost regionally. He highlighted Bulgaria’s contribution to the development of an innovative and full-fledged economy—ranging from the extraction and processing of raw materials, heavy industry, and metallurgy, to energy production and storage from domestic sources, as well as digitization and high-tech manufacturing.
Rumen Radev also emphasised Bulgaria's consistent efforts to improve connectivity with neighbouring countries in various sectors, expressing his expectation that North Macedonia will realise the importance of completing Corridor 8 for Europe and that transport links with Romania via the Danube will be enhanced.
Чуй новините
Подкаст
