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

Borislav Gutsanov: There will be no increase in taxes or suspension of social payments

Minister of Labor and Social Policy Borislav Gutsanov
Photo: BGNES-archive

There will be no increase in taxes or suspension of social payments, Minister of Labor and Social Policy Borislav Gutsanov said in an interview with public broadcaster BNT. Borislav Gutsanov stated that the Ministry of Labor and Social Policy will not be affected and people will not feel a lack of funds, despite the deficit (around EUR 9 billion). According to Minister Gutsanov, the largest gap in the state budget comes from the increase in pensions and salaries in the Ministry of Defense and the Ministry of the Interior, but these are decisions made by the National Assembly. "These people deserve higher incomes", Borislav Gutsanov clarified.

Borislav Gutsanov added that the Council of Ministers will decide whether to take money from the fiscal reserve, but even if such a step is taken, it will be very limited. At the moment, this fiscal reserve is about EUR 4.5 billion, and the minimum that must always be kept is just over EUR 2 billion, meaning "there is still a sufficient reserve", Minister Gutsanov explained. In his words, the draft state budget will be submitted to parliament by mid-February. There are plans on how to cover the 9 billion euro gap, Borislav Gutsanov commented. According to him, the decision not to request a convergence report for the euro area is not a mistake. In his words, it should be done once the real financial situation is established and a budget is adopted.




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

Sales of starter sets with Bulgarian euro coins begin on December 1

Sales of starter sets with euro coins with the Bulgarian national side will begin on December 1, 2025 , the BNB announced. They will be in circulation from January 1, 2026.  The BNB and Bulgarian Posts will sell starter sets only to individuals;..

published on 11/7/25 6:10 PM

Bulgaria marks 140 years since victory in the Battle of Slivnitsa

Prime Minister Rosen Zhelyazkov will take part in the solemn celebrations on the occasion of the 140th anniversary of the Serbo-Bulgarian War, which will be held on November 7 - Victory Day in the Battle of Slivnitsa. The ceremony..

published on 11/7/25 4:28 PM

Research ship "Sts. Cyril and Methodius" departs for Antarctica

Research ship "Sts. Cyril and Methodius" has departed from Varna after a solemn ceremony. In its fourth voyage to Antarctica the ship is expected to reach the Bulgarian Antarctic base on Livingston Island by the end of December and..

published on 11/7/25 3:21 PM