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.The efforts to contain the wildfires in the border municipality of Bolyarovo continue. The partial state of emergency continues to be in place in 7 villages. The night was calm in the region of the big fire in the vicinity of the village of Voden..
On Saturday sunshine is the forecast until noon. In the afternoon clouds will appear and by midnight it will rain briefly but intensely with thunder. There is a risk of hail in the northwest. Minimum temperatures will be between 18 and 24°C,..
The government is working to reduce as much as possible the time taken to pay compensation to victims of the country's recent fires. All those affected will be able to receive up to BGN 1 578 (EUR 800) from the Social Assistance Agency for emergency..
On Sunday a cold front will sweep across the country from West to East. There will be clouds and, in the afternoon, brief showers, thunderstorms and..
“For us this election has to be the last for the coming years. No more compromises with the people, with society or with the political system should..
Bulgaria ranks 10 th in Europe, and 25 th in the world in wine production, Sophie Pallas, director of the International Organisation of Vine and..
+359 2 9336 661