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.
''Only two bridges connect Bulgaria and Romania along our 475-kilometer shared river border – this is a transport shortfall and a new 'Iron Curtain' within the European Union'', said Bulgaria’s Deputy Premier and Minister of Transport and..
On Friday, the minimum temperatures in Bulgaria will be from 6 to 11°C, in Sofia – 7°C. During the day, it will be cloudy over most of the country. In the afternoon, rain will begin in Western Bulgaria, in the mountains above 2,000 meters - snow, and..
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 Embassy of Bulgaria in Pretoria announced on its Facebook page. “We express our gratitude to the..
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