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

Drop in budget revenue due to lower fuel prices

Photo: BGNES

"Bulgaria is experiencing a fall in fuel prices. There has been a decrease in the last 3 months by about 19% for gasoline and 17% for diesel. Bulgarian fuel prices before VAT and excise duty are slightly below average European levels", energy expert Martin Vladimirov from the Center for the Study of Democracy told the BNR. 

The negative effects on the Bulgarian economy come because of the much lower budget revenues from VAT and excise duties, the expert said. In Bulgaria, fuels annually account for about 30% of VAT revenues. The decline in May and June is estimated at between 30 and 35%, which is a serious shock to the budget, Vladimirov commented.





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

Sunshine with precipitation in the northwest, Rila, Rhodope Mountain on Friday

The weather on Friday will be sunny . Cloudy skies are expected in the northwestern half of the country. Mostly in the mountains of western and central Bulgaria, it will rain.  Minimum temperatures will be between 14 and 21°C, in Sofia - 15°C...

published on 8/8/24 7:35 PM

President Rumen Radev: It is very important to guarantee the normal functioning of the state

At the beginning of the political consultations for the appointment of a caretaker prime minister and cabinet, the head of state indicated that the election campaign has practically started. According to Rumen Radev, the 50th National..

published on 8/8/24 6:20 PM

Parliament ratifies memorandum between Bulgaria and Romania on military cooperation

The National Assembly has ratified a Memorandum of Understanding between the Ministry of Defense of the Republic of Bulgaria and the Ministry of National Defense of Romania for the establishment of a Regional Special Operations Component Command..

published on 8/8/24 5:56 PM