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Bulgaria threatened with bankruptcy, risk for the lev-euro rate, incomes get freezing

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Bulgaria threatened with bankruptcy, serious problems with maintaining fiscal stability.

There is a risk of a change in the existing exchange rate of the lev against the euro. Our accession to the Eurozone has to be postponed for an unspecified period of time. An IMF loan may be necessary to save fiscal stability. This will require serious financial restrictions. That situation would also lead to an income freeze.

Those are just some of the serious problems our country is facing. This information is part of a report by the Finance Minister Rositsa Velkova-Zeleva on the preparation of the budget, which BGNES possesses.

Urgent corrective measures of the financial policy are needed if the country is to avoid bankruptcy. The policy was set by the previous Petkov-Vasilev cabinet.

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