Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Tax Freedom Day in Bulgaria falls on 4 May 2018: Institute for Market Economics

| updated on 1/2/18 10:49 AM

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.”



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

Bulgarian singers support the European campaign #UseYourVoice

The Bureau of the European Parliament in Bulgaria is organising a #UseYourVoice concert to support the campaign for the European Parliament elections on 9 June this year. Young singers Dara, Preya, Dara Ekimova and Tino will perform tonight on the stage..

published on 4/19/24 7:10 AM
President Rumen Radev

Rumen Radev expects to hear the real reasons for the proposed cabinet reshuffle

Bulgaria's President Rumen Radev has invited today caretaker Prime Minister Dimitar Glavchev for a meeting to discuss the proposals that the prime minister made for the replacement of two ministers a week after the cabinet meeting. Dimitar Glavchev..

published on 4/19/24 6:10 AM

The weather remains cloudy and rainy at the end of the week

On Friday, the minimum temperatures in the country will be between 2 and 7°C, in Sofia - 1°C. Clouds will be significant, with broken clouds along the Danube. It will rain in the Rila-Rhodope area in the afternoon. Rain will cover southern Bulgaria by..

published on 4/18/24 7:35 PM