PM Radev: We’ll all foot the bill for the previous government

All Bulgarians will have to pay for the debts left behind by the oligarchy and the previous administration, Prime Minister Rumen Radev told reporters before departing for Berlin for talks with Chancellor Friedrich Merz. The previous administration left behind numerous unpaid bills and large advance payments for projects on which no work had been carried out, he said. 

“At Progressive Bulgaria, we believe the political class must set an example. That is why we are abolishing all mechanisms for salary increases for elected officials. We will also review compensation on state boards and in state-owned companies,” the prime minister added, as quoted by BTA.

Radev said his visit coincided with a decision by international credit agencies to upgrade Bulgaria’s credit outlook, which he described as the first recognition of the new government. According to him, the revised outlook also reflects Bulgaria’s return to political stability.

On Thursday, the Ministry of Finance announced that S&P Global had upgraded Bulgaria’s credit outlook to positive from stable, while reaffirming the country’s long-term and short-term foreign and local currency ratings at investment-grade level.

Editor: Miglena Ivanova