Text size

Caretaker cabinet proposes a 2023 state budget with a 6.4% deficit

published on 4/21/23 7:10 PM

Photo: BGNES

The caretaker government is proposing a state budget bill for 2023 with a deficit of 6.4% of the GDP, or more than twice the 3% required by the Eurozone criteria. This was announced at a briefing by Prime Minister Galab Donev and Finance Minister Rositsa Velkova.

In order to achieve a 3% deficit, in March the caretaker government proposed changes to the tax legislation - restoring the reduced rates of VAT and "surplus profit" tax and reducing spending. However, it became clear from what was stated this week by the two largest political coalitions GERB-SDS and PP-DB that they do not support the changes in the tax legislation proposed by the caretaker government.

Similar comments were also expressed by the other parliamentary parties. For this reason, after an analysis, the caretaker government has decided to submit to the parliament a state budget bill for 2023 with a deficit of 6.4% of the GDP, which means almost BGN 12 billion /over EUR 6 billion/.

Radio Bulgaria News budget caretaker cabinet deficit GDP state budget

More from category

Changes to the Constitution pass first reading

The National Assembly has adopted the Bill for Amendment and Supplement to the Constitution at first reading. Among the main highlights in it are strengthening the independence of the judiciary through structural reform of the..

published on 12/8/23 3:46 PM

MP warns of plans for lifting control on GMO food and animal feed in the EU

There is a decision by the Bulgarian government to support new genomic techniques applied for food and animal feed, MP Toshko Yordanov from ITN, said. He read a declaration against the decision in parliament. For the Nature..

published on 12/8/23 1:21 PM

Figures from Monument to the Soviet Army in Sofia to be dismantled for safety reasons

The sculptures from the monument to the Soviet army will be dismantled within 30 days, the mayor of the Sredets region, Traicho Traikov, told BNT. "The structure is in a very bad condition. The safety plan calls for dismantling the sculptures and..

published on 12/8/23 11:33 AM