There are overwritten capital costs in the 2023 budget draft, the President of the Confederation of Independent Trade Unions in Bulgaria (CITUB) Plamen Dimitrov said, BTA informed. The capital expenditures are set for a little over EUR 5 billion, given that the country has never executed more than EUR 3.75 billion in capital expenditires, Plamen Dimitrov said and added that there is a EUR 1-1.5 billion buffer that should be eliminated.
In his words, the funds for the maintenance of the ministries and departments are inflated by EUR 750 million. Meanwhile, the wages and salary costs are underestimated, Plamen Dimitrov argued. According to him, tax revenues are also underestimated- the country’s gross domestic product is expected to increase by nearly EUR 10 billion and tax revenues usually account for 40% of the GDP. The CITUB President argued that things can be balanced in several ways - with an increase in tax revenue collection or with tax restructuring.
The two most sought-after currencies by Bulgarians in 2024 remain the US dollar and the euro, just as in 2023. The Turkish lira, the Romanian leu and the Serbian dinar were also very popular, followed by the British pound and the Swiss franc. This was..
The overall business climate indicator in Bulgaria has increased in December by 1.7 points from 17 percent to 18.7% compared to November . An increase in the indicator was observed in the industry sector by 1.9 points, in retail trade by 5.7 points and..
The National Assembly postponed the discussion and voting of the most important fiscal law of the land – the national budget for 2025 – for next year. “If we do not have an approved budget by 19 January, then everything in the country will grind to a..
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