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

Investments from Italy, the Netherlands and Greece lead in the first half of the year

For the period January-June 2025, the net flow of foreign direct investment in the country reached EUR 848 million (0.8% of GDP), which represents a decrease of EUR 31.4 million compared to the same period in 2024. In June 2025, the flow was negative..

published on 8/18/25 5:19 PM

Bureaucracy and climate change are shrinking Bulgarian organic production

On the world map of organic agriculture, Bulgaria is not just a dot, but a colorful mosaic of food products, carrying the aroma and taste of unspoiled nature. Our organically certified areas produce crops sought after around the world – essential oil..

published on 8/14/25 11:50 AM

In three months, the average salary in Bulgaria went up 5.3% to EUR 1,315.

Preliminary data from the National Statistical Institute (NSI) shows a 1.3% increase in employment from March to June 2025, reaching 2.38 million. The hotel and restaurant sector had the largest increase in employment (24.8%), followed by real estate..

published on 8/12/25 4:47 PM

WEATHER

Pick city: Sofía

Cloudy
Min: 4 | Max: 15

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

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..

published on 10/16/25 11:28 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..

published on 10/16/25 5:18 PM

Share