Stance of Head of State Rumen Radev

The coronavirus crisis already has dire social and economic implications. To reduce the gravity of these implications, the European countries implement a wide array of measures with the clear awareness that national prosperity and progress depend on their structure, range and promptness.

A month and a half after the state of emergency was introduced, the Bulgarian government is still failing to offer a clear and convincing program for a timely, accessible and free financial assistance. At the same time, ever increasing public funds are being allocated to tackling the crisis, and a colossal loan is to be taken out. By introducing the state of emergency, the executive branch of government assumed extraordinary powers for discretionary use of these resources. However, we should not forget that these funds should be earned and paid off by the Bulgarian nationals and businesses.

Therefore, there should be clear mechanisms ensuring transparency, accountability, efficient and responsible spending of public funds.

A public register should be introduced for reporting the money spent on fighting the coronavirus and a regular update of the expenditures, the criteria for their endorsement and the sources of funding should be made.

The state financial assistance should be banned for offshore companies and also for companies that have subsidiaries registered in offshore zones. Some EU member states have already adopted such restrictions, while in other their implementation is on the agenda.

It is high time that the long-term projects with funding secured for the years to come should be reconsidered. The necessary funds should be set aside so that the work on these projects is not stopped in the current year. The remaining financial resources should be channeled at overcoming the social and economic crisis. What is the point in having billions frozen in the next 3 or 4 years and at the same time taking out new loans involving interest payments?