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Podkrepa trade union warns of a growing budget deficit

Photo: expert.bg

The growing risk of a high deficit ahead of the current and next budget requires timely, wise and sustainable decisions that should not lead to impoverishment of people, but to promoting the economy, states the Podkrepa Confederation of Lbour trade union, quoted by BGNES. According to the confederation's forecasts, the maximum additional deficit would be up to 5.9 billion leva /3 billion euros/ more than the 7.1 billion leva /about 3.5 billion euros/ set by the State Budget Act for 2025, provided that revenues are not met and some expenditure items such as transfers to municipalities are exceeded. With such a pessimistic implementation of revenues and expenditures, the deficit would grow to 13.0 billion leva /6.5 billion euros/.


In an optimistic scenario for revenues and savings in expenditures of 4.3 billion leva /just over 2 billion euros/, the budget deficit will be up to 7.5 billion leva /3.75 billion euros/ – very close to the budget.

According to the calculations of the Podkrepa Chamber of Commerce, revenues are expected to be between 46.4 billion leva /23.2 billion euros/ and 51.6 billion leva /25.8 billion euros/, with the law stipulating 55.2 billion leva /27.6 billion euros/.

Given the disasters on the territory of the country, if the set amount of transfers to municipalities is fulfilled and there is no overspending on subsidies, the savings in the expenditure side would be 4.3 billion leva /2.15 billion euros/.



Edited by Darina Grigorova
English version: R. Petkova

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