ITN Proposes Concessions for Major Infrastructure Projects and VAT Reforms
In a bold move to address Bulgaria’s financial challenges, “There is such a people” (ITN) has announced plans to offer concessions for major infrastructure projects, including roads and highways, to its coalition partners GERB and BSP. Stanislav Balabanov, deputy chairman of the ITN parliamentary group, revealed this strategy during an interview with bTV.
The proposal aims to free up funds in the national budget for other critical expenses. Balabanov emphasized that this is one of two key measures the party is pushing forward. The second measure involves standardizing the VAT rate at 20% for all sectors,including hoteliers and restaurateurs. Exceptions will only apply to baby food manufacturers and book publishers.
Balabanov did not shy away from criticizing former Finance Minister Asen Vasilev of “We continue the change”,blaming him for Bulgaria’s current financial woes. “Against everything that Asen Vassilev did, there shoudl now be criminal proceedings, because he allowed Bulgaria to return financially to some dark years – in the mid-1990s,” Balabanov stated. He added that ITN is committed to correcting these mistakes, promising a “tighter future budget with belt tightening.”
The ITN MP also addressed the party’s controversial decision to form a coalition with GERB, despite leading protests against GERB’s rule in 2020. “People had filled the squares, after which ITN managed to win the parliamentary elections (July 2021), managed to remove Boyko Borisov from the government,” he explained. Balabanov highlighted the democratic shifts in Bulgaria’s political landscape over the past five years, which saw eight parliamentary elections and the rise of new political forces like “We continue the change” and Democratic Bulgaria.
ITN’s decision to overthrow the government of Kiril Petkov was driven by what balabanov described as the “financial outrages” of asen Vasilev. However, he acknowledged that GERB has remained the dominant political force in the last five elections.
Key Proposals by ITN
| Measure | Details |
|————————————–|—————————————————————————–|
| Infrastructure Concessions | Offered to GERB and BSP for roads and highways to free up budget funds. |
| VAT Standardization | 20% VAT for all sectors, excluding baby food manufacturers and book publishers.|
this strategic shift by ITN underscores the party’s efforts to stabilize Bulgaria’s finances while navigating the complexities of coalition politics.For more updates on Bulgaria’s political and economic developments, follow Google news Showcase.