Text size

Bulgaria's fiscal reserve decreasing, no reserves for higher revenues: Finance minister

published on 5/12/23 11:25 AM

Rositsa Velkova

Photo: BGNES (archive)

At the beginning of the year, the fiscal reserve was BGN 11.9 billion (EUR 6 billion), while compared to May 10, it decreased to about BGN 10.3 billion (EUR 5.3 billion), caretaker Finance Minister Rositsa Velkova announced in Parliament.

According to her, the decrease is mainly due to pension costs in the amount of BGN 1.4 billion (EUR 715 million). There is also a decrease in VAT revenues - at the end of April they were BGN 4.9 billion (EUR 2.5 billion), which is BGN 143 million (EUR 73 million) less than the same period of last year.

We have maximally strained the revenue part in the tax and social security revenue part," said the minister. According to her, there are no reserves for achieving higher revenues in the draft law on the budget.

"If there is no change to the tax legislation, there will be no reserves in the revenue part of the state budget law," Velkova said.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy draft budget revenues Rositsa Velkova state budget

More from category

Tomislav Donchev and Mila Nenova, Executive Director of Invest Bulgaria Agency, at the presentation of the map.

Ministry of Innovation and Growth presents Bulgaria’s first interactive investment map

The Ministry of Innovation and Growth has presented the country’s first interactive investment map . The platform aims to provide Bulgarian and foreign investors with useful and up-to-date information in one place, making it easier for them to make..

published on 10/17/25 10:37 AM

Bulgargaz proposes 8% increase in natural gas price for November

The Bulgarian state-owed natural gas supplier Bulgargaz has proposed that the price of natural gas for November increases by around 8% to nearly 66 BGN per megawatt-hour, excluding fees and taxes, reported BNR's journalist Yuliana Kornazheva. The..

published on 10/16/25 5:18 PM

BNB calls on the state to pursue conservative financial policy

The growth of the national economy in the second quarter of 2025 accelerated by 3.5% on an annual basis. According to an analysis by the Bulgarian National Bank - BNB, the main factors for the acceleration are the decrease in imports..

published on 10/16/25 11:28 AM