Bulgarian Government Defends BGN 7 Billion Borrowing Amid Criticism

Bulgarian Government Defends BGN 7 Billion Borrowing Amid Criticism

Business

The Bulgarian government insists that borrowing BGN 7 billion is the only viable option to boost the capital of state-owned companies, Finance Minister Temenuzhka Petkova stated during a briefing on Thursday. Her remarks countered criticism from Continue the Change (CC) Co-Chair Assen Vassilev, who called the move "most scandalous."

Petkova highlighted that the 2025 draft budget has been reduced by BGN 2.5 billion in expenditures compared to the caretaker government's proposal. She assured that budget spending aligns with current legislation and past policies, dismissing concerns that EU funds and the Recovery and Resilience Plan would destabilize the budget, CE Report quotes BTA

Deputy Prime Minister Tomislav Donchev added that the government will soon announce which projects from the National Recovery and Resilience Plan will be canceled.

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