Podcast in English
Text size
Bulgarian National Radio © 2024 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

Vintage car parade in Kurdzhali

Collectible cars and mopeds will be put on display in Kurdzhali today, as part of the vintage car parade within the frameworks of the Days of Friendship, an initiative by Kurdzhali municipality . The vintage car parade will, by a tradition,..

published on 7/14/24 8:05 AM

Weather forecast: Heat wave continues, temperatures hit 40 ° C.

Sunday will be sunny and hot. There will be a light, in the Eastern parts to moderate wind from the East-Northeast. Maximum temperatures 35-40° C., for Sofia around 36° C. Over the mountains there will be sun, with cumulus clouds in the..

published on 7/13/24 6:00 PM

Non-issuance of till receipts among most frequent violations in seaside resorts

Within the space of two weeks National Revenue Agency officials have inspected 800 outlets along the Black Sea coastline – catering establishments, discotheques, bars, grocery stores , the agency has announced. More than 150 statements of violation..

published on 7/13/24 5:43 PM