Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

BICA: The budget deficit will reach 7% if nothing changes

Vasil Velev
Photo: BGNES

The national priorities must be Schengen membership by the end of this year, entering the Eurozone by January 2025 and the Organization for Economic Cooperation and Development (OECD) by 2026, said the Bulgarian Industrial Capital Association (BICA). Employers expect MPs to elect a National Assembly speaker and a regular cabinet and adopt a regular budget, BICA President Vasil Velev said for the BNT. BICA calls for reducing the costs for administration, which increased with 112% as compared to 2019. According to BICA, social spending also increased too much.

“If nothing changes, there will be a budget deficit of about 7%. If our goal is to have a 3% deficit, our GDP has to be twice as big, which cannot happen in the next 5 or 6 years”, Vasil Velev said.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Bulgarians explore Smith Island in Antarctica

Bulgarians set foot on Smith Island in Antarctica for the first time. In a very short time window with good weather conditions, on January 10, 2025, the research ship “Sts. Cyril and Methodius” made a trip to Smith Island. At 2:30..

published on 1/13/25 9:49 AM

Bulgarians in Los Angeles are ready to evacuate

We always have to be ready; we all have our suitcases packed and are waiting to leave. We are going south to friends, acquaintances or a hotel. We all make plans where to go. This was what Bulgarian Liya Atanasova, who lives in Los..

published on 1/13/25 9:26 AM
Natalia Kiselova

Speaker of Parliament: “The probability of forming a regular government is 50%”

The probability of forming a government is 50%. I said this before the New Year and I still think so today, as the percentages have not increased. This was what the Speaker of the Parliament, Natalia Kiselova, told bTV.  At the..

published on 1/13/25 8:50 AM