The draft budget, with a deficit of 6.4%, contradicts the Public Finance Act.
In a Fiscal Council position sent to parliament, experts recommend measures for restricting the deficit in the treasury and structural reforms. The consultative body recommends a deficit of up to 3% of the GDP, and states that it should not be forgotten that next year the country will be evaluated by the European Commission. If the deficit remains as set down in the draft budget, Bulgaria will enter an excessive deficit procedure. The high deficit will lead to an increase in the public debt, and even though the country will remain with a comparatively low debt-to-GDP ratio, the interest on servicing the debt will be a burden.
‘This is not the time for early elections,’ said Prime Minister Rosen Zhelyazkov at a GERB party conference. According to BTA, he was opposed to holding elections during the country’s planned adoption of the euro in 2026. GERB chairman Boyko..
The Sofia Appellate Court left in custody Varna Mayor Blagomir Kotsev, who is charged with corruption and participation in an organized crime group. The judgment is final. One of the three judges, Andrey Angelov, signed with a dissenting..
Bulgaria’s Minister of Justice Georgi Georgiev conferred in Brussels with the European Commission team responsible for the Resilience and Recovery Plan (RRP) reforms in Bulgaria, reported the Ministry of Justice. EC: RRP payment depends on..
The Bulgarian National Radio will host the 2025 Public Broadcasters International (PBI) Annual Conference . The prestigious forum will be held from..
The government of South Africa is introducing a visa-free regime for Bulgarian citizens holding ordinary passports for stays of up to 90 days , the..
On Saturday, minimum temperatures will range from 8 to 13°C , around 9°C in Sofia. It will be mostly cloudy with rain in many areas. There will be..
Overcast, rain
Rain
Partly cloudy, chance of rain