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Angelov, Slavi

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24 Chasa - Bulgaria | 20/02/2015

Bulgaria should increase its public debt

Bulgaria's conservative government wants to emit government bonds worth a total of eight billion euros. The measure is aimed at paying off old loans by the end of May and lowering the budget deficit. The Socialist opposition is against the move, much to the annoyance of the daily 24 Chasa: "Bulgaria is a classic example of financial stability and fiscal policy in the EU. But what good does that do us if we're also the poorest? Public debt is not negative per se. All countries in the world have debts. In fact, the most powerful economies are the ones that are the most heavily indebted. Germany's public debt climbed to 80 percent of GDP in 2014, and in France and Britain that figure even topped 90 percent. Apart from Estonia, Bulgaria has the lowest national debt in the EU. We only need to compare how people live in Bulgaria and in Germany to ask: what good does that do us?"

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