Economist: The richest in Bulgaria got richer by 10 billion a year during the rule of Borisov – Finance

Economist: The richest in Bulgaria got richer by 10 billion a year during the rule of Borisov – Finance
Economist: The richest in Bulgaria got richer by 10 billion a year during the rule of Borisov – Finance
  • September 11, 2022
    18:43

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Economist Evgeni Kanev presented an interesting analysis that answers the question of where our country has been in the last decade.

“Our country ranks first in the EU in terms of inequality between the richest 20% and the poorest 20% of the population. In no other country in the EU is there such a drastic difference. In no other country in the EU is there such a rapid rate of increase in the income of the richest as a percentage of the total Gross Domestic Product. In Romania, the income of the richest is even decreasing as a percentage of GDP, which is increasing much faster than in Bulgaria. As a result, a sustainable middle class is formed with growing incomes and a strong democracy,” the economist points out.

“Similar inequality exists in countries that lean towards dictatorship, authoritarianism and one-party nomenclature with a weak market economy and a strong element of power in the distribution of goods,” Kanev believes.

Here is what Kanev writes:

“Because the arrogance of GERB is boundless – they are already shifting the blame for the tragic IM roads, and there is no one to show the truth about their management – I am trying to do it with statistics from the World Bank.

Today I offer you a comparison between Romania and Bulgaria – how the share in GDP of the top 20% of the population by income has changed – in the BB Era.

This is an extremely important indicator that shows how market mechanisms work on the one hand – i.e. whether the contribution of the participants in the economy is fairly paid. And on the other hand – the redistribution of GDP through the budget along the lines of budget salaries, pensions, social benefits, but also with regard to salaries in companies – recipients of public procurement.

The more evenly GDP is distributed among all income groups, the more prosperous the society. The bigger the middle class, the stronger the democracy.

And vice versa – the greater the concentration of income in the richest, the more social and political division there is in society. The more the middle class impoverishes and disappears, the more unstable democracy is and grows into an oligarchy. And the oligarchy buys everything – politicians, judicial system, media and finally the state itself.

You can clearly see that unlike Romania – this is exactly what happened in the GERD era. Between 2010 and 2020, in absolute terms, the incomes of the top 20% increased by BGN 10 billion per year, i.e. by about 7% of GDP.

As a result, we have

– fake political entities created to steal the protest vote against GERB and DPS;

– a judicial system that “takes down” any government act directed against them;

– media that dare not destroy the criminals in our political system and cover their tracks. ETC.

Elections are the only way to bring some normalcy to our country.

And as the Apostle said: “To each his own”.

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The article is in bulgaria

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Tags: Economist richest Bulgaria richer billion year rule Borisov Finance

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