Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

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

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/.

Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

PP-DB tabled bill to protect traffic data

Users' traffic data would have to be stored in encrypted form by telecom operators and other Internet service provide rs, and only a court could order it to be decrypted if necessary for the investigation and prevention of serious crimes. This is..

published on 2/28/24 5:17 PM
Тодор Тагарев

Tagarev: It is prestigious to help Ukraine, many claim the credit

Defence Minister Todor Tagarev appeared before the parliamentary Defence Committee to be questioned about military aid to Ukraine. Amid calls for his resignation from GERB and MRF, the minister told journalists that he had no intention of stepping..

published on 2/28/24 5:06 PM

Government approves amendments to the Foreigners in the Republic of Bulgaria Act

At its meeting today, the government approved a a bill to amend the Foreigners in the Republic of Bulgaria Act , the Government Information Service reported.   The amendments are aimed at bringing the law in line with EU and European Parliament acts..

published on 2/28/24 3:48 PM