Finance Minister in the caretaker cabinet Rositza Velkova has asked the ministries, by letter, to cut expenditure by 20% due to a risk to the budget, Trud and 24 Chasa write in their online versions.
The cause for concern is the accumulated spending because of bills voted by the previous parliaments. “Implementing them undermines the budget balance, and a deficit of 7% for 2023 is to be expected,” Minister Velkova stated, and went on to enumerate the factors that are the biggest threat to fiscal stability: the increase in pensions and social payments, the reduced taxes and the non-implementation of European and investment programmes. To cover the deficit, the country will have to take out new loans and the debt could reach up to 60% of the GDP, Rositza Velkova warned.
Bulgaria is joining the project for the construction of a submarine electric cable in the Black Sea, caretaker Minister of Energy Rosen Hristov said after a meeting of the steering committee for the construction of the green energy corridor from..
Natural gas prices should drop by 15% as of June 1. This proposal was submitted to the Commission for Energy and Water Regulation by the executive director of Bulgargaz, Denitsa Zlateva. Initially, on May 11, it was discussed that the reduction..
One of the largest Jordanian companies in the mining industry is interested in a partnership with the mining sector in Bulgaria. The Chairman of the Board of Directors of the company and former Deputy Prime Minister of the country, Mohammad Thneibat..
Bulgaria is joining the project for the construction of a submarine electric cable in the Black Sea, caretaker Minister of Energy Rosen Hristov said..