The money from the Silver Fund and the European projects is available in the fiscal reserve. This is clear from the announcement of the Ministry of Finance. It is accompanied by public data on the state of the fiscal reserve and the stocks in the so-called “single account”. They are kept in the BNB.
“For the financing of expenses and transfers, the Council of Ministers cannot use the funds from the single account of the State Fund for Guaranteeing the Sustainability of the State Pension System (known as the Silver Fund) and funds from programs and projects of the European Union.” This is the text in the extension law currently in force (note ed. § 15). It limits the use of these funds from the single account to finance current needs.
From the attached table in the announcement, it is clear that during the months of March and April there is no week in which the amount under this limit is below BGN 8.2 billion.
The silver fund is currently around BGN 3.7 billion.
Attached to the publication are links with references to public information on the state of the fiscal reserve. As well as for balances in the “Issuance” department of the BNB.
Without mentioning specifically, most probably the clarification of the Ministry of Finance comes because of the accusations from the parliamentary tribune. They were that the funds from the Silver Fund had been spent or that there was a potential danger of this happening.
In the project proposed by the ministry to extend the extension law, a proposal is made to drop the limitation cited at the beginning, but Minister Rositsa Velkova herself proposed between the two readings that the deputies introduce a new limit, with which to once again ensure that the funds for guaranteeing pensions in the future and European projects will not be spent for other purposes.
