Bulgaria is not in danger of bankruptcy. It is not in danger of the International Monetary Fund's intervention either. There is no need to take out new loans, caretaker Minister of Finance Rositsa Velkova said for the BNT with regard to media publications about two scenarios for a long-term budget forecast.
Minister Velkova assured that with a deficit of 3%, as set in the cabinet's draft law on the 2023 state budget, the country's finances are stable and there is no risk for the currency board. In Minister Velkova’s words, the budget deficit could rise to 7% of the GDP in the next four years if the revenue and expenditure policies of the last two years continue. In order to secure the payments for the current year, the draft provides for the introduction of the so-called excess profit tax- a one-off solidariy contribution for the second half of 2023, Rositsa Velkova said.
Vice President Iliana Iotova also confirmed that Bulgaria is not facing bankruptcy. In her words, yesterday's warnings of the finance minister are a signal to the political class at a time when the caretaker government is preparing a draft of a new state budget for this year. She rejected claims that the caretaker cabinet wanted to steal people's money. "I have confidence in the caretaker cabinet. As long as they work, and Rositsa Velkova is the Minister of Finance, there will be no bankruptcy of the state, nor will there be a need for new debts," the Vice President concluded.
On Thursday, the minimum temperatures in Bulgaria will range from 16 to 20°C, in Sofia - 16°C . Before noon the weather will be sunny. In the afternoon, clouds will start gathering. In places, mainly in the mountainous and eastern regions, there will be..
An icon of Saints Cyril and Methodius, Equal to the Apostles, is kept in the ethnographic museum of the multicultural Bessarabian village of Vinogradovka , Ukraine, according to the Bulgarian Telegraph Agency. The relic forms part of the museum's..
More and more foreign students have been choosing Bulgarian universities and higher education institutions in recent years, the Bulgarian News Agency (BTA) reports. The increased interest is due not only to the tuition fees, but also to the quality of..
The Waterfall Folklore Fest Niagara 2025 brought together fans of Bulgarian folk dance from the United States and Canada. The event took place in Niagara..
Science and physics are the driving forces behind human progress, and events such as this one are a source of pride for Bulgaria. The Minister of..
On Wednesday, the lowest temperatures will be between 13 and 18°C; In Sofia – about 15°C. It will be sunny before noon. In the afternoon there will be..
Mostly Cloudy
Partly Cloudy
Partly cloudy, chance of rain