Bulgaria's President calls for public register on coronavirus financial spending

It is necessary to set up a public register to report the funds spent in the fight against the new coronavirus with regular updating of costs, approval criteria and sources of funding, Bulgaria’s President Rumen Radev said on April 27.

The coronavirus crisis is already causing dire social and economic consequences. To limit their deepening, European countries are implementing a wide range of measures with the clear awareness that their structure, scope and speed of implementation depend on the well-being and progress of the nation, Radev says.

A month and a half after the state of emergency has been introduced, the Bulgarian government has not yet offered a clear and convincing programme for timely, accessible and gratuitous assistance. At the same time, more public funds are being earmarked for overcoming the crisis, and a huge loan is to be taken. With the introduction of the state of emergency, the executive was given exclusive powers to dispose of this resource uncontrollably. However, we must not forget that these funds must be earned and paid by Bulgarian citizens and businesses, stressed the Head of State.

There should therefore be clear mechanisms for transparency, accountability, efficient and responsible use of public funds.

It is necessary to set up a public register for the reporting of the funds spent in the fight against coronavirus with regular updating of costs, approval criteria and sources of funding.

State financial assistance for offshore companies and for those having subsidiaries registered in offshore areas should be prohibited. Such restrictions are already in place in some EU countries and in others, their introduction is on the agenda, the president added.

It is high time to review long-term projects with financial resource for the years ahead; allocate the necessary finances so that work on them is not stopped this year; allocate the remaining financial resources to overcome the social and economic crisis. What is the point of having billions frozen in the horizon of the next 3-4 years and at the same borrowing new loans, on which we have to pay interest? Radev asked.