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

Interim Finance Minister promises no tax or social contribution increases in 2025

Ministry of Labour and Social Policy proposes increase in the pension insurance contribution

Lyudmila Petkova
Photo: BTA

Deputy Prime Minister and Finance Minister Lyudmila Petkova has pledged that there will be no increase in social contributions, corporate or personal income taxes in 2025. The Covid-19 pension supplements will not be discontinued and the budget deficit for 2025 will remain within 3% of GDP, fulfilling the requirements for Bulgaria's entry into the eurozone.


Budget revenues will be boosted by an increase in excise duties on cigarettes, a review of whether VAT on bread should remain at 0%, a restoration of other VAT to its pre-pandemic level of 20%, and more efficient collection of tax and social contribution arrears.


Meanwhile, the Ministry of Labour and Social Policy has published an analysis of the mandatory pension insurance system on its website. The report proposes a number of measures, including an increase in the pension insurance contribution rate and the abolition of the EUR 30 COVID-19 supplement for new pensioners.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Third unsuccessful attempt to elect Speaker of Parliament

The people's representatives have made a third unsuccessful attempt to elect their chair. The political forces once again put forward five candidacies. Only ITN changed its proposal, nominating the oldest MP and its member Silvi..

published on 11/15/24 2:13 PM
Associate professor Spas Tashev

Tirana has announced updated official data on Bulgarians in Albania

In 2023, the first population census was held in Albania after the official recognition of the Bulgarian national minority in 2017, and 7,057 people identified themselves as Bulgarians. Over 7 thousand Bulgarians live in..

published on 11/15/24 1:57 PM
Joint BSP-Vazrazhdane briefing, parliament building, 15 November, 2024

BSP and Vazrazhdane want president’s rights to form caretaker cabinets restored

“Bulgarian Socialist Party-United Left (BSP) and Vazrazhdane have collected 55 signatures for approaching the Constitutional Court in a bid to restore the president’s rights to form caretaker cabinets,” said Borislav Gutsanov at a joint briefing with..

published on 11/15/24 11:32 AM