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

Finance Minister Rositsa Velkova: Bulgaria is not in danger of bankruptcy

Caretaker Minister of Finance Rositsa Velkova
Photo: BGNES

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.


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

Rosen Karadimov and Maria Filipova

CPC to fine traders 10% of annual turnover for speculation with prices in euro

We need to unite within the framework of the law to prevent price speculation after the adoption of the euro, the chairman of the Commission for Protection of Competition (CPC) Rosen Karadimov said at a press conference. "There..

published on 5/29/25 1:07 PM

New F-16 Block 70 fighter aircraft conducts first flight

The new Bulgarian F-16 Block 70 fighter aircraft, which arrived at Graf Ignatievo air base on 2 April, has conducted the first flight of the procedures in the country connected with its integration into the Bulgarian air force, Bulgarian public..

published on 5/29/25 12:16 PM

Agriculture Ministry expects a good wheat harvest

“We expect a good harvest of high-quality wheat which will cover the demand inside the country as well as export after the harvest. Around 90% of the crops are in good and very good condition,” said Deputy Minister of Agriculture and Food Yanislav..

published on 5/29/25 10:46 AM