site.btaDeputy PM Donchev: Those in Power Must Plan for Full Term

In an interview for the Bulgarian National Television on Wednesday night, Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev said that those in power are expected to plan for a full term, because real reforms and policies require systematic efforts over two or three years.

Donchev said that a 3% deficit should be the maximum allowed by the EU's fiscal rules. He added that the right deficit should be 0%, since deficits are always financed through debt. The Minister believes that the country should run a balanced budget policy.

On the topic of Bulgaria's membership in the euro area, Donchev said that a potential benefit for the country would be a credit rating. Addressing BSP - United Left and TISP's (There Is Such a People) opinion on the matter, he reported that intensive talks are being held. He added that the euro area will not be the only contentious topic between the political forces in power.

The Minister said that while governing in the current format will be a challenge, he is hopeful that compromises will be reached. As a positive sign, he highlighted the fact that despite differences on the euro area and other matters, including Ukraine, the negotiators were still able to reach a governance agreement.

Donchev also spoke about topics on which there is agreement, which include the strive for a consolidated budget, stronger economic growth and investment, education, and not wasting European funds.

On the topic of the National Recovery and Resilience Plan, Donchev said that in four years the country has disbursed 10% of the funds earmarked for it, with the remaining 90% to be disbursed in the remaining year and a half. Although the task seems impossible, the Deputy Prime Minister stated that he will do his best. Regarding the lost EU funds, he pointed to a loss of BGN 200 million under the fair transition in 2022. The lost funds will be about BGN 60 million for the 2014-2020 programming period, as the completed implementation is about 98%.