Sofia Echo


Government's first 100 days: Time lost for economy, business

Crucial issues, much-needed reforms put on back-burner

Media: Capital Daily Date: Thu, Sep 05 2013 7 Comments,
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Engaged in purging the top echelons of power and making fresh appointments, the Bulgarian government has put its economic policy on the back-burner and failed to address crucial issues. Its first 100 days in office will be remembered mainly with the budget revision and the raising of the debt ceiling by 1 billion leva (500 million euro), as well as with some proposals for measures against the grey economy and relieving the VAT regime for small and medium-sized enterprises. A few controversial decisions have been taken in the energy sector, which are likely to entail more problems than benefits. The several social measures approved to support the most vulnerable groups are also likely to produce a negative effect by further widening the budget gap.

The government has also manifested enviable skills in financial management by using privatization receipts to buy shares in financially troubled ordinance plant VMZ and by transferring resources and assets from profitable companies to loss-making entities. It has failed to start the much-needed reforms in the social and healthcare sectors and has even hinted of plans to retreat on some measures, such as raising the pension age.

By neglecting the demands of protesters, who have been calling for the cabinet's resignation for 84 days now, and trying to keep its frail parliamentary majority, the government has created an unfavourable economic environment: falling consumption, lack of new investment, rising unemployment, near-zero GDP growth. Earlier this week the government easily placed a 300 million one-year bond; however, an auction for 10-year securities a month ago failed. That is a clear sign that in a long-term plan investors do not trust the government and see increasing risks in it.

Read more in Bulgarian here.

  • Profile preview
    providermandate Rating: 23
    #7 13, 11, Thu, Aug 28 2014


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    rcu02371555 Rating: 24
    #6 08, 41, Tue, Aug 05 2014

    <a href="">DSC 2014
    More aggressive and more lucrative dollar store pharmacy in today's post-recession economy. But if one dollar shop's technique catches on, soon you may even be filling your prescriptions there. That reminds me the time of the government of Simeon Sakskoburggotski (2001-2005) with foreign minister Solomon Passy

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    ahv28364622 Rating: 32
    #5 04, 07, Fri, Jul 25 2014

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    Нефертити Rating: 14114
    #4 23, 32, Mon, May 19 2014

    Time lost at all.

    Предразсъдъците са за ограничените.

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    rqc45317860 Rating: 8
    #3 05, 33, Wed, Oct 23 2013

    More aggressive and more lucrative dollar store pharmacy in today's post-recession economy. But if one dollar shop's technique catches on, soon you may even be filling your prescriptions there. A <a title="When you need a personnel loan our personnel know what to do" href="">personal loan</a> is perfect to help you pay for your prescriptions.

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    xalikarans Rating: 17470
    #2 20, 27, Sun, Sep 15 2013

    The most important thing was to be adopted budget.This cabinet handle.

  • Profile preview neutral
    #1 19, 04, Tue, Sep 10 2013


    George Chaldakov, MD

    Mother, should I trust the government?
    Roger Waters, the song "Mother"

    At 9:42 PM on September 5, 2013 in e-newspaper Burgas Plus it was reported that the "US Senate said "yes" to the war in Syria today, US military in the region since Monday."
    That reminds me the time of the government of Simeon Sakskoburggotski (2001-2005) with foreign minister Solomon Passy, also known with his cynicism "Fuck Orthodoxy".* Then Afghanistan [...]

    Read the full comment and Iraq, now – Syria, Passy most actively directs, according to Noam Chomsky - indoctrinates, public and political opinion on the usefulness of military action in Syria by the "willing-ers" led by the USA, which – again – like the airport of the native Burgas. While world famous tennis player Novak Djokovic says on the courts of US Open in New York that he is "against weapons" and knows that "war never make ordinary people's lives better," according to Solomon Passy hostilities are a variation of general theme of good and evil. One of the most erudite professors in Bulgaria, his father, knew very well that the "tragedy of life is not so much the conflict of good and evil, but the conflict of values" - written by Nikolai Berdyaev in the "Hierarchy of Values. Goals and means".
    Values, Passy, are at the top of the good. Love and peace - of Christianity. Dog training – of the politics, in which nations go on "carrot and stick" of the Great Powers - Might is Right, published in 1890 in the UK, has become the most amoral political doctrine. Bulgaria has for centuries been its target - in the IX century during the reign of Prince Boris I, she was crucified on geopolitical cross of Byzantium and Western Europe. On July 13, 1878 in Berlin, Great Powers unceremoniously re-crucified Bulgaria. In 1945 she was crucified between USSR, UK and USA. Over the past 23 years – between USA, EU, NATO and Russia.
    Both then and now, my moral reflex responses to the syndrome of Passy by emphasizing words: "Let sea-gulls and doves, not war hawks flying in the sky of Burgas!", and sent them to friends and colleagues around the world.
    Furthermore I consider** that the government of Oresharsky must resign. ОСТАВКА (Bulgarian word of RESIGNATION) – wrote the great Roger Waters on his Wall in the national stadium of Sofia, just at the moment when he sang Mother, should I trust the government?
    And more than 40 000 Bulgarians applauded him - enthusiastically.
    * "Passy said at least two things for which he had long since disappeared from everywhere: "Fuck Orthodoxy" and "What is our jiggery-pokery to recognize Armenian genocide” – wrote the famous Bulgarian journalist Kevork Kevorkian in 2011.
    ** Marcus Cato the Elder (234-149 BC) is an ancient Roman senator, orator and writer. In the last years the Punic Wars against Carthage he ending his speeches at every meeting of the Senate: "Furthermore I consider that Carthage must be destroyed" (Ceterum censeo Carthago delenda est) - even when his speech was not about Carthage.
    And the Romans destroyed Carthage in 146 BC, indeed.

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