The draft budget, with a deficit of 6.4%, contradicts the Public Finance Act.
In a Fiscal Council position sent to parliament, experts recommend measures for restricting the deficit in the treasury and structural reforms. The consultative body recommends a deficit of up to 3% of the GDP, and states that it should not be forgotten that next year the country will be evaluated by the European Commission. If the deficit remains as set down in the draft budget, Bulgaria will enter an excessive deficit procedure. The high deficit will lead to an increase in the public debt, and even though the country will remain with a comparatively low debt-to-GDP ratio, the interest on servicing the debt will be a burden.
Wednesday will be mostly sunny, with clouds developing over the western half of the country in the afternoon. There will be brief showers, thunderstorms and a chance of hail. The phenomena will be intense in mountainous areas. Maximum temperatures will..
Caretaker Minister of Interior Kalin Stoyanov is attending the ministerial conference of the Salzburg Forum countries in Vienna, the Ministry of Interior's press center reported. The conference is held within the framework of the Austrian..
The Bulgarian Development Bank (BDB) is starting "unlimited" financing for the country's defense industry. According to caretaker Minister of Innovation and Growth Rosen Karadimov, the military-industrial complex is a strategic sector for Bulgaria,..
Bulgarian Minister of Agriculture and Food, Georgi Tahov, participates today in a meeting of the EU Agriculture and Fisheries Council,..
Evelin Banev-Brendo, declared an international wanted man, surrendered to the police this morning, the Ministry of the Interior..
On Tuesday it will be mostly sunny before noon, with light to moderate east-northeasterly winds in the afternoon. Maximum temperatures will be between..
sunshine, cloud, rain and thunder
Partly Cloudy
Mostly Cloudy