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Expect Economic Crisis In Bulgaria

The Bulgarians should be extremely moderate in their desire to invest because objective economic difficulties are piling over the country.

This claimed in an interview for Nova TV Dimitar Ivanov, former economic counselor of president Parvanov, member of the Economic council to the president. He forecast serious difficulties for the bank system in Bulgaria.

According to the famous economist Bulgaria is at the age of the second big financial crisis within the last 11 years if urgent political and economic measures are not taken.

We are witnessing two very serious things at the moment – for the first time it becomes clear that the oligarchy model of the power, created in the last 18 years, cannot continue functioning, emphasized Ivanov.

The expert pointed out that the oligarchy model could not have been created, developed and functioned without the help of important state institutions. This cannot be an asset neither for the current, nor for the previous government, commented Ivanov.

The economist gave as an example the owned by the richest Bulgarian, which is estimated at 3.54% of the Bulgarian GDP. According to Ivanov the three richest Bulgarians own more than 7% of the GDP.

As a comparison Ivanov pointed out that the $ 56 bln of the richest American Bill Gates amount to 0.4% of the US GDP and the richest ever American Rockfeller had 2% of the US GDP.

According to Ivanov, Bulgaria has turned into a symbol of the corruption and crime in Europe.

“I am amazed as an expert by the pink picture which the government outlines regarding the country's economy”, claimed the economic expert. According to him, continuation of the work of the cabinet “Stanishev” means economic crisis because the question is - in this world crisis with the very high vulnerability of Bulgaria can the economic ship be led by Stanishev.

Grotesque and surreal, this is how Ivanov described the situation with the scandals in the Bulgarian ministry of interior and the non-confidence vote – “at the background of the fact that hundreds of thousands of Bulgarian families might become 'under water'”.

At the background of the financial crisis, the government and the coalition are dealing with protecting the public failure of a minister, claimed the former president adviser.