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

Tax Freedom Day in Bulgaria falls on 4 May 2018: Institute for Market Economics

| updated on 1/2/18 10:49 AM

We shall be working 4 months this year to fill up the state treasury, analysts from the Institute for Market Economics say. Every year they calculate how much Bulgarians have to pay for the services the state offers.

“This year Tax Freedom Day falls on 4 May. Taking that until then we will have worked to fill up the government coffers, afterwards we will be working only for our own selves, redistributing 36 percent revenues,” says Petar Ganev from the Institute for Market Economics.

“We are always somewhere around the 35, 36, 37 percent mark for redistribution, and adding European funding, the figure comes up to around 40 percent. But a discrepancy is observed between what goes into the budget and what happens at the end of the year.”

Economists talk of turning full circle from the adoption of the budget with a deficit, to a surplus at the end of the year. This is a practice that has to stop, says Petar Ganev:

“There is money in the budget. The question is how effectively we are spending it, as there will obviously be more money for the social systems. Around 500 million more for the health system, 500 million more for education. It is important whether this money is reaching more people.”



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

BNR hosts the 2025 edition of the annual Public Broadcasters International conference

For the first time, the Bulgarian National Radio (BNR) is hosting the annual Public Broadcasters International conference . The conference brings together public media bosses and executives from 24 countries across five continents. The theme..

published on 10/21/25 10:42 AM

Bulgaria wants to invite mayors from Taraclia to gain insight into how the European Union functions

Bulgaria supports the start of EU accession negotiations with Ukraine and Moldova, said Bulgaria’s Minister of Foreign Affairs Georg Georgiev during the EU Foreign Affairs Council held in Luxembourg. European Commissioner for Enlargement Marta Kos..

published on 10/21/25 9:54 AM

President Radev appoints ambassadors to Belgium, the Netherlands and Kazakhstan

President Rumen Radev has issued decrees appointing Bulgarian ambassadors to the Kingdom of Belgium, the Kingdom of the Netherlands and the Republic of Kazakhstan. The decrees were published in the State Gazette, reported BTA. Natalia Evgenieva..

published on 10/21/25 9:14 AM