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Bulgaria's economic misery deepens as Socialists, opposition clash
January 15, 1997
Web posted at: 3:05 p.m. EST (2005 GMT)From Correspondent Christiane Amanpour
SOFIA, Bulgaria (CNN) -- Protesters have been on the streets of Sofia for 10 straight days. Taxi drivers take their symbolic hour-long strikes to the steps of Parliament. And Bulgaria's main labor unions are considering nationwide walk outs.
"Throw the red rubbish out," the demonstrators chant. They blame the ruling Socialists for continuing old Communist policies that have brought Bulgaria to the brink of economic collapse.
"It's true we have not done all we could," said Bulgarian Socialist Party Chairman Georgi Parvanov. "But we Socialists have a new team now and we are the party of reform."
But the opposition Union of Democratic Forces insists that it is the party to implement market reforms
"We will be much bolder we will privatize the economy, close loss-making businesses and be much more decisive," said union Chairman Ivan Kostov.
The daily street-party protests called by the opposition are meant to press the Socialist government into early elections.
Both sides appeared to have softened their stances on Wednesday, nearing the possibility of talks aimed at bringing about those early elections.
But independent observers say a constant face-off between the two main parties with no national objectives and no results means the country just lurches from crisis to crisis. The whole political system must change, they say.
In the transition from Soviet satellite to democracy, Bulgaria lags behind most of its east European neighbors, poorer even than their poorest neighbor, Albania.
"The income is twice less than Albania," said political analyst Alexander Tomov. "In 1992 it was two times more, so compare the evolution of the economy in these six years."
Local currency loses ground every day. Bulgarians are taking their savings from banks and buying building materials as a better bet. With inflation at 300 percent, only people with dollars and other hard currency will survive.
And worse times loom ahead. Bulgaria needs international loans and other financial aid, but it will be shut out of the game if it defaults on its international debt payments in the spring -- and analysts worry Bulgaria may become the first European country to do that.
Related story:
- Bulgarian prime minister resigns - December 21, 1996
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