"Vazrazhdane" at Government-Forming Talks with President: Bulgaria Is Heading Towards Debt Spiral; Talks on Restoring the Lev Needed

President Iliana Iotova on May 5 received representatives of the parliamentary group “Vazrazhdane” at the Presidency on Dondukov 2, as part of ongoing consultations with parliamentary forces ahead of handing over the first mandate to seek to form a government, which will go to Radev’s Progressive Bulgaria as the largest group in the 52nd Parliament, after its decisive victory in Bulgaria’s April 19 early parliamentary elections.

At the start of the talks, she noted that Bulgaria is now in a new political situation, with “Progressive Bulgaria” having secured an absolute majority.

“In democratic societies, the role of the opposition is no less important, and you have stated that you will be such an opposition. We listened carefully to your messages during the election campaign, as well as to your declaration in the National Assembly, and we noted your positions.

Citizens need swift action in at least two areas. You have spoken at length about the budget, which must be prepared for half a year in order to end the practice of budgets carried over from the previous year, and in leva (BGN), as well as about reforms in the judicial system,” the Head of State said.

Anghel Slavchev of “Vazrazhdane” said the party had prepared four key topics for discussion, but expressed strong concern over comments made by a representative of “Progressive Bulgaria” regarding new borrowing.

“I was deeply shocked by what I heard today — that even before taking office, they are considering new debt, which automatically means that Bulgaria is entering a debt spiral, as we warned throughout the campaign. We are effectively following the Greek scenario towards state bankruptcy.

“What we intend to do is to hold discussions on restoring the Bulgarian lev, because only in this way can we emerge from the situation in which we currently find ourselves.”

Slavchev also said that since Bulgaria’s entry into the eurozone, the resulting inflation has been unprecedented in recent years, which is why his party insists on restoring the Bulgarian lev.

He recalled that 604,000 Bulgarian citizens had signed a petition calling for a referendum to postpone Bulgaria’s entry into the eurozone, which his party initiated. “The governing parties at the time — GERB, WCC–DB, MRF, BSP and other smaller parties — rejected it, despite the fact that we had fully met all legal requirements,” he said. “Subsequently, President Rumen Radev also initiated a proposal for a referendum exactly a year ago.”

Slavchev added that his party remains principled and consistent in defending its causes. He also invited President Iotova to initiate a referendum on the restoration of the Bulgarian lev, in order to demonstrate her own consistency over time.