Bulgaria sold out in Peevski debt spiral

ByEnigma 808

Kostadin Kostadinov announced that Bulgaria faces imminent bankruptcy while criticizing the government’s budget strategy at a press conference. The Vazrazhdane party leader stated that his group would reject all proposed budgets and accused the ruling coalition of replacing one Peevski ally with another through the rotation of the parliamentary speaker. He warned that Bulgaria ranks third in the European Union for debt growth and currently borrows 52 million leva daily.

Kostadinov predicted financial catastrophe after Bulgaria joined the eurozone on January 1, when bank reserve requirements dropped from 12 percent to 1 percent. He argued that this change will drain capital from Bulgarian banks as funds flow to other European markets. The politician blamed the shared government of PP-DB, GERB, and DPS for the fiscal crisis rather than placing the blame solely on former finance minister Asen Vassilev.

The party chairman called for administrative cuts to maintain current salary levels amid declining revenues and foreign investment. He condemned the treatment of former speaker Kiselova by BSP members while acknowledging Vazrazhdane would not defend her actions.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.