site.bta2022 Budget, Planned Bigger Spending, Draw Various Public Attitudes

In a situation of an economic crisis and growing inflation, the public has varying attitudes to the budget for 2022, which is yet to be passed conclusively, and to the higher spending planned in it, according to an Alpha Research poll conducted on February 14 and commissioned by the Bulgarian National Television. 

The poll was conducted among 401 adults by means of a direct standardized interview by phone. 

Fifty-nine per cent of the respondents in the poll said that the 2022 budget will shake the financial stability, and lead to inflation. Thirty-three per cent are of the opinion that the budget will put an end to the "forever poor" policy, will lead to economic growth and greater welfare. 

The respondents with a critical opinion of the budget are supporters of the opposition, people who choose not to vote, and supporters of the Bulgarian Socialist Party which is part of the four-party coalition government.

The poll showed that on the one hand, people approve of the efforts of the government to ensure higher incomes but on the other, they are concerned with the planned budget deficit and new debt. For many years, the state budget has been underpinned by the understanding that revenue should not exceed expenditure and the change of this principle now divided the Bulgarians as 49 per cent believe the principle should continue, which 43 per cent favour the new approach. 

The polarized attitude to the budget causes uncertainty about personal consumption with 54 per cent of the respondents saying they plan to save as they expect a pessimistic economic scenario, and 43 per cent saying they will spend and invest.

Despite drawing opposing opinions on a number of topics, Finance Minister Assen Vassilev apparently has managed to win a good name for himself as 25 per cent of the people are willing to have him oversee the proper spending of budget resources. There are relatively high expectations about an active role in the process on the part of Parliament (19 per cent) and of the mutual control among the partners in the government (17 per cent). There is a significant share of people who trust no one, 23 per cent.

The pollster notes that at the moment the power holders enjoy the people's approval which in part compensates for the concerns in the new approach in the fiscal policy. However, this approval is fragile and the implementation of the budget and the attained results will be the critical test for the government. DT/ZH