Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgaria must quickly renegotiate clauses of the Recovery Plan

Finance Minister Assen Vassilev
Photo: BGNES

The 2023 state budget with a 3% deficit is feasible and does not "tighten the belts", Finance Minister Assen Vassilev told Nova TV. A total of BGN 250 million (EUR 125 million) has been additionally allocated for salary increases in various sectors, Vassilev said.

The funds for culture have also been increased, Vassilev added. If in 2022 funding for culture amounted to BGN 340 million (EUR 170 million), of which BGN 40 million (EUR 20 million) remained unused and returned, in the new budget it is BGN 357 million (EUR 178.5 million).

The government must finish the renegotiation with the European Commission on some clauses of the Recovery and Resilience Plan in a very short period of time in August and September. Parliament must also pass the Energy Act, which is one of the main pieces of legislation for the second payment under the Recovery Plan. The budget stipulates that the second payment under the Plan must come by the end of the year, which means that the legislation must be adopted by the end of September, Vassilev also pointed out.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Online conference discusses possibilities for supplying Bulgarian gas to Moldova

The Bulgarian-Moldovan Chamber of Commerce and Industry held a meeting with leading specialists from the energy sector of Bulgaria and Moldova. The online conference was led by the Chairman of the Bulgarian-Moldovan Chamber of Commerce and Industry,..

published on 12/10/24 4:19 PM

Finance Ministry releases draft of state budget for 2025

The draft budget for 2025 proposes a deficit of 3%. The mid-term budgetary forecast targets a deficit of 3% up until 2028. The government debt is to increase to EUR 41.57 billion by 2028. The size of pension insurance is to be preserved in..

published on 12/10/24 10:14 AM

EUR 613 million more for the Health Insurance Fund, pensions to be updated by 8%-9% in 2025

In 2025, the National Health Insurance Fund will be able to spend 1.2 billion leva (EUR 613 million) more on insured individuals, the draft budget of its Supervisory Board envisages. The health insurance contribution remains 8% of the insurable..

published on 12/9/24 11:54 AM