Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Borislav Gutsanov: There will be no increase in taxes or suspension of social payments

Minister of Labor and Social Policy Borislav Gutsanov
Photo: BGNES-archive

There will be no increase in taxes or suspension of social payments, Minister of Labor and Social Policy Borislav Gutsanov said in an interview with public broadcaster BNT. Borislav Gutsanov stated that the Ministry of Labor and Social Policy will not be affected and people will not feel a lack of funds, despite the deficit (around EUR 9 billion). According to Minister Gutsanov, the largest gap in the state budget comes from the increase in pensions and salaries in the Ministry of Defense and the Ministry of the Interior, but these are decisions made by the National Assembly. "These people deserve higher incomes", Borislav Gutsanov clarified.

Borislav Gutsanov added that the Council of Ministers will decide whether to take money from the fiscal reserve, but even if such a step is taken, it will be very limited. At the moment, this fiscal reserve is about EUR 4.5 billion, and the minimum that must always be kept is just over EUR 2 billion, meaning "there is still a sufficient reserve", Minister Gutsanov explained. In his words, the draft state budget will be submitted to parliament by mid-February. There are plans on how to cover the 9 billion euro gap, Borislav Gutsanov commented. According to him, the decision not to request a convergence report for the euro area is not a mistake. In his words, it should be done once the real financial situation is established and a budget is adopted.




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

Spring weather continues with rising temperatures

On Friday morning, visibility will be reduced in places in the plains, valleys and around water bodies. Minimum temperatures will be from 1 to 4°C, in Sofia - around 1°C. During the day it will be sunny and warm with scattered high clouds. A light to..

published on 3/6/25 7:15 PM
Simona Veleva, acting chairwoman  of CEM.

Over Half of Radio and TV Journalists in Bulgaria Are Women

In Bulgaria, 58% of presenters and reporters are women, while men account for an average of 69% of participants and guests. These figures come from a targeted monitoring by the Monitoring and Analysis Directorate of the Council for Electronic Media..

published on 3/6/25 6:15 PM
Tomislav Donchev

Government to announce soon which RRP projects will be cancelled

At an extraordinary briefing of the Council of Ministers, Deputy Prime Minister and Minister for Innovation and Growth Tomislav Donchev announced that the government will announce next week which of the Recovery and Resilience Programme (RRP) projects will..

published on 3/6/25 6:07 PM