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

Weather forecast: The clouds and rain continue, no rain in the Southwest

On Thursday minimum temperatures will range between 6 and 11° C., for Sofia around 8° C. During the day the weather will continue cloudy and rainy. The rain will be more significant in Eastern Bulgaria, and in the afternoon – in Central Bulgaria...

published on 11/5/25 6:35 PM
Deputy PM Tomislav Donchev

European Commission withholds payment under recovery and resilience plan over failure to implement anti-corruption reforms

The European Commission has decided to withhold EUR 215 million from the second payment under Bulgaria’s recovery and resilience plan, the EC told the Bulgarian National Radio. The country is to receive EUR 439 million. EU may cut money for..

published on 11/5/25 4:39 PM

Parliament sets up ad-hoc committee to investigate Soros’ activities in Bulgaria

With 111 votes for, 51 against and 43 abstained, the National Assembly approved the establishment of an ad-hoc committee to investigate the activities of George Soros and his son Alexander Soros and their foundations in this country financing..

published on 11/5/25 3:15 PM