Bulgaria is not in danger of bankruptcy. It is not in danger of the International Monetary Fund's intervention either. There is no need to take out new loans, caretaker Minister of Finance Rositsa Velkova said for the BNT with regard to media publications about two scenarios for a long-term budget forecast.
Minister Velkova assured that with a deficit of 3%, as set in the cabinet's draft law on the 2023 state budget, the country's finances are stable and there is no risk for the currency board. In Minister Velkova’s words, the budget deficit could rise to 7% of the GDP in the next four years if the revenue and expenditure policies of the last two years continue. In order to secure the payments for the current year, the draft provides for the introduction of the so-called excess profit tax- a one-off solidariy contribution for the second half of 2023, Rositsa Velkova said.
Vice President Iliana Iotova also confirmed that Bulgaria is not facing bankruptcy. In her words, yesterday's warnings of the finance minister are a signal to the political class at a time when the caretaker government is preparing a draft of a new state budget for this year. She rejected claims that the caretaker cabinet wanted to steal people's money. "I have confidence in the caretaker cabinet. As long as they work, and Rositsa Velkova is the Minister of Finance, there will be no bankruptcy of the state, nor will there be a need for new debts," the Vice President concluded.The contract with the Turkish state-run gas company BOTAŞ is as much a problem for the Bulgarian side as it is for the Turkish side, Energy Minister Zhecho Stankov said in an interview with public service TV BNT. He stated further that he had never..
The Ministry of Culture is expecting UNESCO to approve, by the end of 2025, the application of the Centre for Underwater Archaeology in Sozopol as a regional centre for underwater archaeology in the Black Sea region. The centre will be located..
Most of the country will see sunshine before noon on Wednesday. In the afternoon, cumulus clouds will form in many areas, bringing rain. There will be moderate and occasionally strong north-westerly winds. Maximum temperatures will range from 19°C to..
Students of medicine, young doctors and medical specialists from six towns – Sofia, Plovdiv, Pleven, Burgas, Varna and Stara Zagora – are staging..
Household consumers will remain on the regulated electricity market for an unlimited period, said Energy Minister Zhecho Stankov at a briefing at the..
Rose picking season is starting this year with serious problems because of the prolonged cold spell, BGNES reports. The people in this line of..
+359 2 9336 661