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Antonov, Stephan

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2 articles of this author have been cited in the European Press Review so far.

Dnevnik - Bulgaria | 24/01/2011

Tax raises per referendum nonsense

The Bulgarian Finance Minister Simeon Djankov has suggested raising direct taxes only by referendum in future. An impracticable and cowardly idea, writes the daily Dnevnik: "The probability that people will support a rise in direct taxes is very low. Basically, raising tax is correct in certain economic situations, but in others it can be dangerous. Consequently the key question is the extent to which voters are qualified to decide. It would be naive to believe that Bulgarians read the economic analyses of the Bulgarian National Bank, the World Bank, the IMF and other financial institutions en masse to gain an insight into possible economic developments in the near future. ...As long as taxpayers aren't mature enough to decide such expert matters, it would be unfair to burden them with the responsibility."

Dnevnik - Bulgaria | 30/07/2009

False prognoses damage the Bulgarian economy

Since the spread of the economic crisis Eastern Europe has become the subject of many false estimates and prognoses, the daily Dnevnik writes: "Almost every week analyses by various experts appear on Internet portals and in agencies explaining what difficulties the region is experiencing. ... Thus, in its spring report on the need for foreign financing in eight East European countries the IMF [International Monetary Fund] allowed conspicuous inaccuracies. The institution later apologised and corrected the data, but this proved to be no exceptional case. In spring the [US financial services provider] Citygroup published a report according to which Bulgarian GDP was supposed to exceed the nominal value of 40 billion euros. ... The problem is that analyses by authoritative institutions and agencies have a major role to play ... and the community of investors takes notice of them."

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