Balkans | “The political crisis poses a threat to the Bulgarian economy”

Home » Balkans | “The political crisis poses a threat to the Bulgarian economy”
Balkans |  “The political crisis poses a threat to the Bulgarian economy”

Peter Kubanov, Chairman of the Parliamentary Budget and Finance Committee of the Movement for Rights and Freedoms (MÖH), told Bulgarian state broadcaster BNR, “There will also be a slowdown in the growth of the Bulgarian economy. For 2022, I expect the decline in the growth rate to be around 3.2%. Projections for this are The average optimism fell by 1-1.5% the year, he said.“The rate of decline depends on the size of the recession,” he said.

The President of the Commission referred to the political crisis that made it impossible to address the country’s economic problems permanently and systematically as a danger to the Bulgarian economy.

Chubanov said: “The change in the European economic model, the loss of cheap raw materials, the sanctions imposed on Russia – all this affects European economies, especially the German economy. Supply and supply chain disruptions continue, and we are witnessing uncertainty and price volatility due to the ongoing problems in China.” “This puts us in a high inflation environment and uncertainty increases in that environment. The more volatile inflation is, the more difficult economic decisions can be made, including for businesses. Investments slow down, which limits growth,” he said.

The head of the authority, who was a guest on the “More” program, also pointed out in a positive way: “We are at the end of the previous program period in terms of payments, 2023 is the last year for the projects that will be completed.” and paid. If this happens, it will be a positive catalyst for economic growth as there are large infrastructure projects.”

According to Chobanov’s testimony, Bulgaria is moving away from joining the eurozone in 2024.

The head of the authority indicated that there is still a shortage of workers in the labor market and therefore there is no increase in unemployment. The situation of the business world is still uncertain and companies are avoiding making serious investments.

Regarding the task of forming the government given to the We Continue to Change (PP) party, Kubanov said that the MRF will decide whether to support the government’s program in the Plenary Assembly of Parliament, but he believes that a government cannot be formed.

“There were attempts to meet before the new year, but there was no effective dialogue attempt to achieve the result we all want, which is the formation of the government,” said Chubanov. “The mandate to form a second government will not be implemented, but efforts will be made for a third government.”

Source: CardZhalNews

Random Post