For an additional 7 days, some politicians, evidently misled by their economics specialists, when once again lied to the public. Just after Eurostat and NSI confirmed with their latest details that Bulgaria is not the chief in the EU in terms of industrial production, European statistics have disclosed as soon as once more that Bulgaria is not even in 4th place in terms of economic progress. , how they lied to us.
Lachezar Borisov, previous Financial state Minister in Boyko Borisov’s third government, writes on Fb.
This is what else he writes:
What did the information for the 7 days show us?
* Preliminary figures from the NIS show financial progress of 4.8, which over-all for the onset of challenges linked with a nascent recession abroad, even now seems to be superior.
* In fact, the general picture is by no signifies optimistic, due to the fact:
– According to information from European stats, Bulgaria was overtaken in conditions of yr-on-12 months economic progress in the second quarter of 2022 by a amount of other countries.
– Once-a-year economic progress is greatest in Spain (6.3%), Cyprus (6.1%), Hungary (6.5%), the Netherlands (5.3%), Portugal (6.9 %), Romania (5.3%), Slovenia (8.3%) and info for 5 other Member States are also anticipated.
All this indicates that Bulgaria is not in 4th position in terms of economic advancement in the 2nd quarter of 2022, compared to the exact same interval of the past 12 months.
– If comparative evaluation is applied, it can be observed that for the quick interval of authorities of the past typical governments, there is a relative worsening of the rating in an regular comparison, in phrases of effectiveness of our country, no matter of regardless of whether the governments they ruled for distinctive durations of time.
In which is the good news and the terrible news?
* The news relevant to investments in the GDP composition is extremely undesirable.
* Around the past 4 quarters, expense in the GDP structure has declined by well around 40%, a procedure that started straight away following the takeover in spring 2021.
* In the exact period, personnel missing 10.1 share details of their buying ability (wage growth of 7.7% with a progress in family spending of 17.8 /%), while underneath the former everyday government, which dominated for 4 several years, a growth of about 40% since incomes have developed by about 50% and inflation by just about 10% and this in 4 several years.
* The summary is that, on average, annual cash flow has experienced a 10% true development in a administration model and the latter has resulted in a 10% decline.
* NSI information convey relative optimism in phrases of preserving the growth price of use, but are also accompanied by:
– A serious drop in the use of fundamental foods items in amount, which is a serious social issue for small-earnings groups and ultimately signals a deterioration in domestic intake.
– Loans and loans to homes, which help the country’s domestic use, grew by 159.6%, as can be witnessed from the NSI report on consumers’ incomes, bills and intake.
* The favourable news is that GDP is increasing (even according to the info expressed) at a greater rate than the EU ordinary, but this is not because of to economic reforms, but to hereditary elements, which are:
– Bulgaria’s finest economic general performance all through the Covid-19 crisis and the implementation of anti-crisis steps, which not only had a protective outcome, but also boosted.
– The very good point out of the electrical power sector, which is at this time acquiring monumental increases in extra worth for the place and is a resource of compensation for firms.
– The advancement of coal mining, which is linked to the electrical power business.
– Progress and margins in the sale of goods of the army-industrial complex.
– Partial advancement in the transformation market and in particular in the chemical business, in the export of fuels.
The summary is that Bulgaria rewards from the fiscal balance it has made, which it has achieved in the very last 10 years, but a fiscal cataclysm will adhere to, because of to the cessation of organic revenue advancement, caused by inflation and expansion of the gray financial system. .
Unfortunately, at the instant, the two businesses and the state are not investing, which is why we are losing development. We are great towards other European economies thanks to the electric power sector, but natural fuel materials have been an apocalypse.
Organizations lose value competitiveness and persons lose acquiring electric power. Adequate European actions are essential to rapidly bring inflation back to shut to the European regular and be certain the existence of organizations and folks.
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