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

Prime Minister Rosen Zhelyazkov supports the peace plan for Ukraine

“Borders cannot be changed by force, and Ukraine’s long-term security must be guaranteed”, Bulgaria’s Premier Rossen Zhelyazkov said during a videoconference meeting of the “Coalition of the Willing”, led by French President Emmanuel Macron and UK..

published on 11/26/25 8:57 AM

Bulgaria and China discuss cooperation in the automotive sector

Business forum on the topic "Bulgaria - China: cooperation in the automotive sector" is being held on November 26 in Sofia. Its organizers are the Bulgarian Chamber of Commerce and Industry and the Embassy of the People's Republic of..

published on 11/26/25 7:30 AM

Draft budget 2026 sparks protests

The Bulgarian Industrial Capital Association has called for participation in a protest on November 26 against the budget for 2026, which is about to be adopted at second reading. "We call not only our members, but also all..

published on 11/26/25 6:50 AM