We shall be working 4 months this year to fill up the state treasury, analysts from the Institute for Market Economics say. Every year they calculate how much Bulgarians have to pay for the services the state offers.
“This year Tax Freedom Day falls on 4 May. Taking that until then we will have worked to fill up the government coffers, afterwards we will be working only for our own selves, redistributing 36 percent revenues,” says Petar Ganev from the Institute for Market Economics.
“We are always somewhere around the 35, 36, 37 percent mark for redistribution, and adding European funding, the figure comes up to around 40 percent. But a discrepancy is observed between what goes into the budget and what happens at the end of the year.”
Economists talk of turning full circle from the adoption of the budget with a deficit, to a surplus at the end of the year. This is a practice that has to stop, says Petar Ganev:
“There is money in the budget. The question is how effectively we are spending it, as there will obviously be more money for the social systems. Around 500 million more for the health system, 500 million more for education. It is important whether this money is reaching more people.”
Bulgaria’s Ministry of Finance published the draft bill of the country’s state budget for 2019. The Finance Ministry is planning a deficit to the tune of 0.5% from the GDP. The public debt continues to decrease. Next year the authorities are not..
In 2017 Bulgaria’s debt amounted to EUR 13.2 billion, or 25.6% of the country’s gross domestic product, the National Statistical Institute informs. According to final data, the State Government sector registered a budget surplus of EUR 573 million, or..
At a meeting this weekend with the Vice Chairperson of the Standing Committee of China’s National People’s Congress Cao Jianming Bulgaria’s President Rumen Radev called for stepping up investment cooperation with China in the field of science and..