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"One of the risks when we don't have a new budget is our moving away from Schengen and the Eurozone. It's not that they rushed to accept us, but this will be a formal reason to postpone us," commented economist Kiril Simeonov in the "Day ON AIR" studio. 

According to him, it was mandatory to submit a new budget and reflect the current macroeconomic realities.

"If there is no regular government, we can have a June-July budget at the earliest. There is no way we can make it because we don't have such buffers, the estimates are until the first quarter," the economist pointed out. 

The EU Council will vote on two separate decisions on the extension of Schengen

The guest pointed out to Bulgaria ON AIR that when the economic situation is turbulent, it is good to update the budget at shorter intervals. 

"Money will be frozen - it won't be able to be updated for inflation. The minimum wage has to be updated, inflation will reduce the ability to operate with a budget balance. Between the first and second readings there is a chance to change a lot of parameters. Many people said, that if there is a new budget, it will become populist. Now between the first and second reading, it will be like that again, it is more responsible to bring in a new budget," Simeonov stated and clarified that this is already a closed door. 

He accused the caretaker government of shirking responsibility by not submitting Budget 2023.

Bulgaria in Schengen

Kiril Simeonov