Bulgaria is not in danger of bankruptcy. It is not in danger of the International Monetary Fund's intervention either. There is no need to take out new loans, caretaker Minister of Finance Rositsa Velkova said for the BNT with regard to media publications about two scenarios for a long-term budget forecast.
Minister Velkova assured that with a deficit of 3%, as set in the cabinet's draft law on the 2023 state budget, the country's finances are stable and there is no risk for the currency board. In Minister Velkova’s words, the budget deficit could rise to 7% of the GDP in the next four years if the revenue and expenditure policies of the last two years continue. In order to secure the payments for the current year, the draft provides for the introduction of the so-called excess profit tax- a one-off solidariy contribution for the second half of 2023, Rositsa Velkova said.
Vice President Iliana Iotova also confirmed that Bulgaria is not facing bankruptcy. In her words, yesterday's warnings of the finance minister are a signal to the political class at a time when the caretaker government is preparing a draft of a new state budget for this year. She rejected claims that the caretaker cabinet wanted to steal people's money. "I have confidence in the caretaker cabinet. As long as they work, and Rositsa Velkova is the Minister of Finance, there will be no bankruptcy of the state, nor will there be a need for new debts," the Vice President concluded.
On Wednesday morning, visibility will be reduced in some places in the valleys, plains and along the Black Sea coast. Minimum temperatures will range between minus 3 and 2°C, around minus 2°C in Sofia. During the day it will be sunny with highs between..
For the first time in recent election history, the end election result leaves a party running in the election outside the National Assembly with a result of 3.999% (Velichie), 21 votes short of the electoral threshold, reads a position by the..
The Central Election Commission (CEC) is sending the prosecutor the video recordings of the ballot count in 7 polling stations where there is a discrepancy in the number of votes counted. The prosecutors will have to check whether there is..
Over 1/3 of the cases of African swine fever among wild boars in Europe have been registered in Bulgaria , the Association of Pig..
An engineering contract for the construction of new capacity at the Kozloduy Nuclear Power Plant (NPP) has been signed by NPP Kozloduy - New Capacities..
On Tuesday , the lowest temperatures will be between minus 3° and 2°C, in Sofia - around minus 1°C. During the day it will be sunny,..
Clear
Partly Cloudy