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.
Metropolitan Daniil of Vidin has been elected as the new Bulgarian Patriarch. He received 69 votes. Metropolitan Gregory of Vratsa received 66 votes. There were three invalid ballots. The Grace of the Holy Spirit is in Unity, Purity of Faith and..
Former National Assembly speaker Rosen Zhelyazkov will probably receive tomorrow the first cabinet- forming mandate from President Rumen Radev, GERB-SDS MP Luben Dilov assumed in an interview for BNR. He added that he was referring to "statements" by..
The delegates of the fourth Patriarchal Electoral Church Council are already voting for new Bulgarian Patriarch. He will be elected with a two-thirds majority of their votes from among three candidates: Metropolitan Gregory of Vratsa, Metropolitan..
Bulgaria’s national team of mathematics put up an excellent performance at the Junior Balkan Mathematical Olympiad. Six Bulgarian students returned from..
Bulgaria’s President Rumen Radev handed the first cabinet-forming mandate to Rossen Zhelyazkov who is the prime minister-designate of the largest..
On Tuesday the weather will be sunny and hot over most of the country. Clouds will form over Western and Central Bulgaria in the afternoon and there..
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Partly cloudy, chance of rain