26 May is tax freedom day for Bulgarians this year. The Institute for Market Economics has estimated that this year, we have to work 146 for the state to provide the money for the treasury. The state budget envisages revenues of over 57 billion Leva (EUR 29 billion) for the year.
In the space of one day, Bulgaria produces 392 million Leva. (EUR 200 million) of the projected GDP amounting to 143 billion Leva (EUR 73 billion). It takes 146 days to fill the treasury – this is the formula used to calculate when tax freedom day will come.
58 days are needed to cover direct taxes and social security contributions, and another 54 days for indirect taxes. A deficit of 5.9 billion Leva (EUR 3 billion) has been budgeted for in 2022, or 4.1% of the GDP, a sum that equals another 15 days.
Moody's Ratings has affirmed Bulgaria's long-term and short-term rating at Baa1 with a stable outlook. The affirmation of Bulgaria's Baa1 rating reflects the rating agency's expectations that Bulgaria's debt and creditworthiness indicators will remain..
On January 27th, government securities for 150 million euros (300 million leva) will be offered on the domestic market , the Bulgarian National Bank (BNB) announced. The bonds will have a maturity of 7 years and an annual interest rate of 3.25%. On..
Bulgaria is making the necessary progress towards adopting the euro, according to representatives of the European institutions whom Finance Minister Temenuzhka Petkova met with. This progress will allow Bulgaria to request extraordinary convergence..
Moody's Ratings has affirmed Bulgaria's long-term and short-term rating at Baa1 with a stable outlook. The affirmation of Bulgaria's Baa1 rating..
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