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.
On Friday , the lowest temperatures will be between minus 5 and 0°C. In Sofia it will be around minus 3°C. In the morning hours along the riverbanks and around water basins there will be reduced visibility. It will be sunny during..
The importance of eurozone membership for Bulgaria was the focus of Prime Minister Rosen Zhelyazkov's meeting with European Central Bank President Christine Lagarde and Eurogroup President Pascal Donahue. On the sidelines of the European Council meeting..
"Currently, Bulgaria is one of the few in the EU that unconditionally meets all nominal criteria for convergence to the eurozone, including the price stability criterion, with which we have had problems in recent years." This was..
Workers in state psychiatric hospitals have gone on strike demanding higher salaries and better working conditions, including adequate workplace..
A proposal for holding a referendum on preserving the Bulgarian lev has been submitted to the parliament's registry office. This was announced by the..
Bulgaria ranks third among EU countries in terms of minimum wage growth in the period 2015-2025. According to Eurostat, during this..
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