For the first time in many years, the state has been unable to collect the projected sum om VAT – it is 670 million Leva short (EUR 335 million), the Finance Ministry has announced.
In July, parliament updated the budget, raising the projected GDP growth, and adding 11 billion Leva (EUR 5.5 billion) of expenditure. But due to the fact that differentiated VAT was retained for tourism, restaurants, bread and flour, the revenues expected have not been collected, the Finance Ministry says. The taxes collected in the 2022 budget amount to 31.6 billion Leva (EUR 15.7 billion), which is only 100 million Leva (EUR 50 million) more than planned. The overfulfilment comes from corporate tax and from taxation of incomes of natural persons, whereas indirect taxes – VAT and excise – are below the projected levels for the year, the ministry points out.
The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real..
The international rating agency Standard & Poor's (S&P Global Ratings) has affirmed Bulgaria's 'BBB/A-2' long-term and short-term foreign and local currency sovereign credit ratings. The rating outlook remains positive. If a stable..
In the next 3 to 5 years, Bulgaria will experience a shortage of more than 250,000 specialists with higher education. For the past 8 years, Bulgaria has missed the opportunity, which a number of EU countries have taken advantage of, to conclude an..
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate..
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