“There is a problem with the collection of budget revenues. They are planned with some optimism. This optimism is not justified so far“, said economist Georgi Ganev in the studio of “Denyat na Zievo”.
He pointed out that in the first two months the situation seemed normal, but the big challenges will come towards the end of the year.
Ganev also commented on the topic of the reactors of the “Kozloduy“ NPP. According to him, the strategic goal is to extend the life of both reactors. However, this will require serious investments.
“Spent nuclear fuel sounds scary, but in terms of volume it is the smallest problem. It can be compressed, but a storage facility must be found for other radioactive waste. These problems have chronically not been resolved in depth in Bulgaria“, Ganev pointed out.
He emphasized that this year a projected budget deficit will have to be financed.
According to him, a possible positive result from the convergence report will not lead to an immediate increase in Bulgaria's credit rating.
“I have the feeling that the international markets have already calculated our entry into the eurozone“, he commented.
He explains the surge in interest in Bulgarian bonds with the progress towards the eurozone and the positive news accompanying this process. In addition, Bulgaria is among the countries with the lowest debt in the EU.
Ganev added that he would raise the retirement age before increasing pension insurance, as life expectancy in Bulgaria is growing rapidly.
“The longer we are expected to live, the longer we have to work to finance our old age“, the economist was categorical.