/ world today news/ Before and now – Martin Dimitrov: It is very dishonorable to take such a huge loan
Since the rulers and Finance Minister Vladislav Goranov proposed to ratify an agreement with 4 banks, chosen in an obscure way, to draw down a BGN 16 billion loan, the screens have been filled with people saying how useful it is to take out such a huge loan, despite the public dissatisfaction and sharp reactions from all opposition political forces, even among the coalition partners. In that sense we think it’s helpful for our readers to clarify the positions of some of today’s loan sharks by putting them through the lens of their political talk from just over a year ago.
“The update that is done to the budget by any government means that you are not stable, that you are in trouble. You can’t fix the budget and update it. There’s no point in making such a move right now because by borrowing, you raise interest rates for both businesses and households, making the overall economy worse.” This is stated by Martin Dimitrov and he adds that it is not clear why the rulers want this money and, according to him, the finance minister does not know what to explain to the media. “They do not say what they are withdrawing this money for. Which brings us to the deep doubts that they are ashamed to tell each other. Even when you go to the bank and take a loan, they ask you what it is for. And in the case, when you have to get the support of both the parliament and the society, it is proper to say what you will do from here on. It is very dishonest to take such a huge loan without a clear commitmentbut very specific in front of the Bulgarian parliament”, says Dimitrov. “Look, they think about survival. And this budget update is precisely in the direction of survival. To have some extra money to be distributed here and there and to calm the public tension. The goal is mastery, buying as much time as possible. Their goal is survival, but this goal is not in favor of Bulgariais not in favor of the Bulgarian economy. ”
This statement by Martin Dimitrov was made during a TV appearance on Nova TV from 22/07/2013. The economist and former leader of the SDS, who was then part of the extra-parliamentary opposition in the form of the “Reformation Bloc”, commented on what was planned by the government of Plamen Oresharski updating the budget in the amount of BGN 1 billion, which the government announced will be spent on refinancing old debt, as well as covering the current year’s deficit.
“We should not let the BSP demagogue in this ugly way, but have a clear position first of the ruling coalition. That’s why we asked for a postponement of the vote so that it has time to explain itself.” This was announced by Martin Dimitrov and he added that they voted to postpone the withdrawal of the loan in order to have a week to explain to the public. “The tool is goodit is no coincidence that it is used by Poland, Romania and other countries, but something that is not adequately explained leads to ugly speculation,” he added. “In my opinion, it is logical to finish the topic next week. Currently, interest rates on international markets for Bulgarian debt are record low. Despite the BSP’s demagoguery, people did not understand this. Currently, Bulgarian debt is trading at record low levels of 2% and something, and that’s why it should not be too late because if new debt is taken now it will be at lower levels than the old debtMartin Dimitrov added.I, as an economist, what concerns me is not this elementary demagoguery, but Bulgaria now taking advantage of these record low interest rates and a significant part of the debt being under these conditions, which will reduce our interest payments.”
This statement by Martin Dimitrov was made during his appearance on the sidelines of the parliament in front of BLITZ TV on February 19, 2015. He commented in his capacity as an MP from the ruling coalition on the government’s request to withdraw a debt of BGN 16 billion ., which was not argued by either the finance minister or any former member of the ruling majority.
We will continue to make such comparisons because we believe it is important to know who is speaking from what position and giving final judgments in our society. It’s even more important when the same person makes diametrically opposed statements within a little over a year.
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