Банкеръ Daily


The Financial Reserves Will Be Depleted in 140 Days, Losses Per Day Are BGN 50 Million

We’ll run out of financial reserves in 140 days, losses per day are 50 million levs. This was stated by the economist and founder of the Market Economics Institute Krasen Stanchev on national radio over the government's economic measures at the height of the epidemic.

Stanchev specified that in addition to these direct losses for the state and businesses, there are others – indirect ones. "There are losses that are not visible. The so-called day government services, which are an obligation of citizens, are 151 thousand. Among them there are things that are related to the business - all kinds of building permits, forms, related to electricity, water and so on. All these things are not working right now for one simple reason - the people who need to provide these services are not working. Measures must be taken for the state and municipal administrations, the territorial administrations of the central authorities to work, "the expert said.

According to him, urgent measures should be taken in the construction business as well, because at the moment there are over 1500 buildings to be completed. "The whole business is at risk - this is 4.8 billion levs in construction alone," he stressed.

The main problem with any distribution in the economy is whether the money goes to those who need it or to those who are more organized, Stanchev added.

"In every measure from now on, every policy must be equal for everyone because all are affected by the crisis. Otherwise, it turns out that everyone pulls the rug out towards themselves and does not help those who are most in need but those who are the most organized, the most capable of speaking up and those, entitled to a wedding night with the government, "the expert said.

The economist does not see the most risky groups to be covered. "This is not the case at the moment. Obviously, some Roma neighbourhoods are poorer than Boyana neighbourhoods, but what get Roma boroughs is a police presence. It is clear which the risk groups are, "he said. "What needs to be done is to give a long - term perspective and timing of the measures - those that have already started.

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