Text size

Drop in budget revenue due to lower fuel prices

published on 4/26/20 3:53 PM

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!

Radio Bulgaria News diesel excise duty fuel prices gasoline state budget VAT

More from category

Consumer confidence and willingness to spend money is growing

Consumer confidence rose by 5.6 points in July, according to a survey by the National Institute of Statistics. According to consumers, the general economic situation in Bulgaria has been improving over the past 12 months, and expectations for the next..

published on 8/8/24 2:23 PM

Message sent to the US House of Representatives for Bulgaria

Congressman Joe Wilson, Republican from the state of South Carolina, founder and co-chair of the Congressional Friendship Caucus for Bulgaria, addressed the House of Representatives on Bulgaria. This was announced by the Embassy of Bulgaria in the USA on..

published on 8/8/24 11:50 AM

National Railway Infrastructure Company refutes Skopje's claims about Corridor No. 8

The claims made by North Macedonia’s Premier Hristijan Mickoski, his Deputy Prime Minister and Minister of Transport Aleksandar Nikoloski and other responsible figures in Skopje regarding Corridor No. 8 are false and misleading. This was stated by the..

published on 8/8/24 10:32 AM