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Budget update could lead to financial destabilization, employers say

Vasil Velev
Photo: BGNES

Employers have expressed concerns about the proposal for updating the state budget, which is to be voted on at second reading. According to Vasil Velev, chairman of the Industrial Capital Association, the changes are likely to shake the financial system.

"There will be a rise of costs and reduced revenues and this will lead to a new boost in inflation and financial destabilization," he said. Vasil Velev expressed concern that the most important measure for compensations related to the high electricity prices on the free market might not be adopted.

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