Employers and syndicates: The 2013 budget is too optimistic

Employers’ organisations and trade unions have questioned the implementation of the 2013 budget. The prevailing opinion is that the revenue side of the draft budget is too optimistic to be fulfilled.

The Bulgarian Industrial Association (BIA) doubts the optimistic 1.9% GDP growth in real terms and the 4.9% increase in nominal terms, forecast in the 2013 budget, stated the official position of the organisation. According to BIA, the fulfilment of the planned tax and non-tax revenues will be impeded by the non-fulfilment of the anti-crisis measures in the ‘fiscal support’ part.

Rumen Radev, Economic Director of Zagora holding company and Vice President of the Bulgarian Industrial Capital Association (BICA), also predicted on Bulgaria ON AIR TV that the planned 1.9% GDP growth in the 2013 budget draft is unattainable. According to him, the main concerns in the 2013 budget are connected with its revenue side and the projected economic growth. “This budget should better forecast 1% GDP growth and plan additional buffers,” he said. According to him, a positive side of the 2013 draft budget is the tax stability and the fact that no amendments to tax legislation are projected.

“The Podkrepa Labour Confederation has very serious remarks on the budget, especially in its part regarding pensions,” said the syndicate’s leader Konstantin Trenchev before the session of the National Council for Tripartite Cooperation. According to Trenchev, the increase in incomes is a step in the right direction, but it is not sufficient.

“Additional revenues of at least BGN 450-500 mln may enter the budget,” predicted Plamen Dimitrov, leader of the Confederation of Independent Trade Unions in Bulgaria (CITUB).

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