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The former Deputy Minister of Finance (2001 - 2009) Lyubomir Datsov told "Nova TV" that the time has come for the VAT to be raised to 22%. 

"It is not a question of whether the deficit should be 3% of GDP, the question is why it is not a 1% excess? Two things can be done. The Ministry of Finance has proposed them - to reduce the expenditure part, this is how to control this type of deficit most efficient. The other thing is to raise taxes. You steal everything you can physically cut in terms of volumes, including laying off people, stealing capital spending. In the long run, structural reform can be done across sectors to change their efficiency .Another option: inflation is frozen and left to find equilibrium.Measures through revenue can be to reduce consumption, stimulate production.The time has come for a VAT of 22%.I prefer to do that and not deal with the rest of the nonsense. It would reduce demand, not supply."he commented.

The Ministry of Finance publishes changes in tax laws

Economist Julian Voinov defined the increase of the minimum wage compared to the average as an administration measure that does not improve people's living standards.

He believes that the measures to be taken should be aimed at supporting business activity in the country.

"VAT at the rate of 22% is a harsh measure, it is not necessary at the moment. However, I support the return of VAT rates for the restaurant industry. We have seen the reverse hypothesis of falling prices. Profits jump 2 years in a row by 10 billion in the economy. These measures have not played the role that was relied on," he pointed out, expressing the opinion that the Bulgarian economy should return to "normality from 2019.

Assoc. Dr. Shteryo Nozharov, economic adviser to the Bulgarian Chamber of Commerce, also did not support the increase in the minimum wage planned from January 1, 2024. "This is a 17-20% jump in the minimum income. It will be hit mostly tourism. 80% of those employed in tourism are on unemployment benefits. That is, the season in 2024 may get worse," he predicted.

Richard Alibegov (BAZ): We are raising prices because everything is getting more expensive

Nozharov noted that in order to attract income, reforms are needed, including in the pension system.

"We pay BGN 3 in order to receive BGN 1 from a pension, roughly speaking. This year the Surplus Profit Tax will be paid by companies that are making a loss this year. Possibly, next year they will be reimbursed the excess funds. Bureaucratic and bureaucratic absurdity. The collective tax responsibility of companies will grow by 50%. Maybe in the next 20 years, a foreign investor will not come to Bulgaria after this signal," he also commented.

Businessman: "Excess profit" tax is a fundamental mistake

Evgeny Kanev noted that during the last year, Bulgaria had good opportunities after the war, which most likely will not last this year.

"We were exporters of electricity, grain and arms. The economic environment is deteriorating: rising interest rates, geopolitical crisis, it matters whether there will be a recession in the big countries that are also our partners. VAT must be restored. We must finally introduce e-government, this is a way to save money. Even in Kenya they have that," the economist pointed out.