Besides the heavy rains, it was also bad news that poured down in recent days on the shoulders of average Bulgarians. Gloomy forecasts for the coming months are yet again in store as Bulgarians are preparing once again to tighten their belts.
As already reports leaked in some newspapers, a few days before the early parliamentary elections Bliznashki’s caretaker cabinet has prepared an update of Budget 2014 in negative figures. The fact that it deals with this issue means that the government has "smelled" the grim results in the development of the Bulgarian economy and must immediately take measures, and not wait for the stepping into office of the regular government after the elections. According to publications, the update sets a deficit of 4.5 percent instead of the previously projected 1.8 percent. Experts estimate that in this situation in the last months of the year, the state will not be able to dispose of about 3.5 billion leva. On the other hand, Brussels wagged a finger that Bulgaria does not meet the Maastricht criteria for no more than 3% deficit.
Against this background, it is quite strange to see the behaviour of the caretaker government, which continues to generously hand out money as if the country is prospering. The latter distribution is for a total of over 100 million leva in the form of extraordinary subsidies to some ministries. If we add the advance payment of the delayed European projects and the additional nearly one million leva spent for costs of the presidency, for its short existence Bliznashki’s cabinet has given out over 850 million leva.
Another touch of the crisis is the imminent increase in the price of electricity for end consumers by about 10%. The head of the SEWRC, Svetla Todorova, blundered out that his price hike was just the sanitary minimum. It is likely that after the New Year additional jumps in the price of electricity will follow. And even first-graders know that any increase in the cost of any energy leads to an increase in the price of everything else, including bread.
Another imminent problem is the danger of a gas crisis in Bulgaria. The country relies almost entirely on Russian gas passing through Ukraine. If Moscow stops the tap in the event of tensions with Kiev, Sofia can rely on insignificant reserves for about a month and imports from Greece, but at a much higher price.
A number of EU member states have quietly and a long time ago virtually emerged out of the global financial and economic crisis that started a few years ago. Yet Bulgaria is not among them as it has become clear that there is no exit for this country. And austerity is gradually becoming a constant presence in the everyday life of the Bulgarians.
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