/ world today news/ There are legal and economic grounds to attack the debt of BGN 16 billion in court.
This was stated by the People’s Representative from BSP Left Bulgaria and Deputy Chairman of the Committee on Budget and Finance Prof. Rumen Gechev on BNT. According to him, the current government has allowed itself a practice unknown in Europe and beyond. “Because the law on the budget is adopted year after year and there is no such country that has authorized its finance minister to conclude contracts for a colossal debt of 16 billion BGN, for a period of three years,” he explained. According to him, the other problem is that the government has entered into a contract with banks for the debt, without authorization from the parliament, and one of the banks is under investigation. Gechev was adamant that the budget law is voted on first and then the government conducts negotiations on who will realize the debt and under what conditions.
“It is obvious that there was a political umbrella over KTB”, says Prof. Rumen Gechev about the case with KTB. He explained that he knows most of the colleagues in Banking Supervision and his opinion about them is that they are specialists with many years of experience, and he is puzzled as to how they made the mistakes that led to the drama with KTB. According to him, the bank grew at a high speed and the money was distributed behind the scenes in violation of basic European banking rules. According to him, the bad news in the case of KTB is that the state institutions were not in place. “I am referring to the Management Board of the BNB, Banking Supervision, including the National Tax Service. Because from this bank, about BGN 4 billion simply evaporated from its assets. They leaked through several companies. But I am skeptical that the money can be returned. Despite everything, I am adamant that work must be done to return every penny to the Bulgarians,” Gechev emphasized.
“There is no highly developed industrial country that does not have a progressive tax,” Rumen Gechev is convinced. He expressed the opinion that the flat tax is an exception because in Bulgaria it is record low. “And we have a shortage of funds for the army, medicine, education, and the BSP wants to help raise more funds,” commented the national representative. According to him, shock taxes should not be introduced. “For rich Bulgarians, with incomes over BGN 10,000 per year, the tax should be a maximum of 30%, and for poorer people – with incomes up to BGN 4,000 per year – to be reduced. BSP proposes this tax, which, apart from provide more budget funds, will also introduce some social justice,” Prof. Gechev also said.
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