Asen Vasilev criticizes Bulgaria's 2027 draft budget

Asen Vasilev, leader of the “We Continue the Change” party and former finance minister, has issued a sharp critique of Bulgaria's proposed 2027 state budget. Describing the plan as a “skyscraper built on the foundations of a single-story house,” Vasilev warned that the budget relies on unrealistic economic forecasts that could lead to recession, increased unemployment, and widespread poverty.

Vasilev specifically challenged the government's inflation and deflator projections, noting that the Ministry of Finance has previously revised inflation estimates upward significantly. He argued that the current projections of 4% inflation and a 5.7% deflator fail to account for high energy costs, rising prices for fertilizers, and geopolitical instability.

While acknowledging some positive measures, such as increased social payments, higher maximum pensions starting in July 2027, and expanded tax reliefs for working parents, Vasilev claimed these benefits are undermined by new taxes and insufficient increases. He cited the modest rise in student scholarships and child benefits as examples of inadequate support. Furthermore, he noted a lack of anti-crisis buffers or compensation for rising diesel, gas, and electricity costs for businesses.