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ACTS Post opinions with a wide range of perspectives to encourage constructive discussion.
Today the Prime Minister boasted that Bulgaria will be one of the countries with the smallest deficits! However, what the Economy Minister did not tell him, which is his last name, and what the Prime Minister did not tell us, was that Bulgaria abandoned the fiscal discipline that it had followed for many years, which was perhaps one of the few aspects positive economic policy. Bulgaria in the last decade.
When, if not now, on the first day of the new year, should we not think about what awaits us in the long-awaited 2021 with hope for change?
In fact, the result that the Prime Minister “presumes” is due to the fact that our country has given the least support to companies and citizens with the lack of adequate action by the Minister of Economy and Finance. However, it did not spend BGN 3 billion on an economically controversial gas pipeline, BGN 1 billion on a water and sewerage holding company, and BGN 140 million to subscribe a stake in the capital of a Bulgarian bank, and it will not. I would like to repeat that the current Minister of the Economy approved a BGN 75 million loan from the Bulgarian Development Bank to a collection company, as well as a number of other loans to companies close to the government in the tens, perhaps hundreds of millions of BGN.
It is also important to remember that the debt / GDP ratio went from 13% in 2009 to almost 30% in 2020, and although it is still at a relatively low level, we are seeing a clear trend to abandon the maintenance rate. fiscal discipline so far.
And just as the government failed to address the Kovid 19 health problem and the health crisis of the pandemic struck us with “unprecedented fury,” so in the same way, abandoning fiscal discipline could make us face an economic problem without less “. rage”, whose consequences we will not be able to overcome for many years.
We must remember that, compared to other EU countries, Bulgaria is:
– The country with the lowest income;
– The country with the greatest social inequality;
– The country with the lowest pensions and benefits for disadvantaged people;
– The country with the lowest life expectancy and highest mortality;
– The country ranks last in terms of digitization of the economy.
Overall, in all comparisons we are among the furthest behind.
But the constant look at the past is neither constructive nor positive, we simply must not forget where we came from and what happened. But from now on we must focus on the future! It is good to learn from mistakes so that we can achieve constructive and constructive change in the future.
We are on the threshold of a new industrial revolution.
There is a debate in economic theory about how many industrial revolutions there have been so far, but that is not the point.
Without a doubt, the way the economy develops and business is done is changing significantly,
We are moving towards a new type of economy.
And, as always, with every change in the status quo, there are many winners and many losers.
Where the Bulgarian economy will be on the side of the winners or losers depends both on the entrepreneurial spirit that the Bulgarian undoubtedly has and on the vision for the development of the Bulgarian economy by the government.
I would like to raise some key points for reflection!
– How will the economy recover?
– Have we addressed the health problem caused by the corona virus?
– How will all this be balanced with basic human freedoms?
– Address the enormous social inequality, which is like a social clockwork bomb for our country.
One of the most important issues today is, on the one hand, the extent to which there is or lack of significant government support for small and medium-sized enterprises and the problem of youth unemployment.
And why it is important to have a special focus on all governmental measures, because the easiest thing a young man can do when he is not satisfied is to grab the luggage and Terminal 1 or Terminal 2 with a one-way ticket.
We lose everything, expressed in numbers, on average each employee contributes about 40,000 levs per year to the Bulgarian economy.
And if we think that BGN 40,000 is not a significant amount, if we multiply BGN 40,000 by 40, which is the normal duration of a person’s economic activity, and we consider this result for the thousands of people who leave Bulgaria permanently every year, then we are speaking annually of billions of levies of lost profits.
In this context, special attention should be paid to integrating young people into work and developing the necessary new job skills.
In its final version, the state budget for 2021 is pre-electoral, not pre-crisis or one to combat the consequences of the economic crisis. It is again impressive that the fiscal discipline maintained until now has been abandoned! A significant deficit is projected, and in 2021 alone it will amount to a record nearly 5 billion lev.
At the end of the 2021 – 2023 period, the public debt is expected to increase by more than BGN 10 billion, which means that with the amounts due on past due liabilities, we will assume a total debt of almost BGN 20 billion for the period in total. Economic measures to combat the crisis caused by the health problem are mainly affected by measure 60/40.
Only with subsidized employment measures it will not work. Strong measures are needed to help micro and small businesses alleviate tax and administrative obligations.
To conclude, I will add that the budget only betrays the government’s desire at the cost of our money to “buy” the elections, but the bill for this will be paid by us and our children in the coming years.
Another very important document, the proposed recovery plan to take advantage of EU funding, lacks ambition for a rapid economic recovery. The main priorities established in this plan respond rather to the criteria of BB – “uncle and brother”, known in our economic reality.
If we talk about the future, in 2021 decisive steps must be taken in the direction of:
– Cope with the economic crisis and real help to overcome the problems and the transformation of small and medium-sized enterprises so that they can face the new challenges of the modern economy;
– Strengthen the capacity of health facilities, reaching modern treatment methods, not only in the fight against Kovid 19, but also in any health area for the maintenance and preservation of human life;
– Improve the quality of Bulgarian education at all levels, in order to increase the competitiveness of the Bulgarian workforce;
– Active policy in the direction of overcoming the enormous social inequality in the country;
– Many of these challenges will be overcome more easily and effectively, with the help of the comprehensive digitization of the economy and the development of the necessary skills to work in the new environment of people.
– Support for the Bulgarian culture as an effective means to deal with the emotional and psychological problems of people caused by the pandemic and social isolation.
To end! Let’s keep hope, desire for change, spirit and intransigence in the status quo not just now, today and tomorrow, but forever!
And our will and dreams to live well to be the best corrective of the government!
Bulgaria
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