Text size

Caretaker cabinet proposes a 2023 state budget with a 6.4% deficit

published on 4/21/23 7:10 PM

Photo: BGNES

The caretaker government is proposing a state budget bill for 2023 with a deficit of 6.4% of the GDP, or more than twice the 3% required by the Eurozone criteria. This was announced at a briefing by Prime Minister Galab Donev and Finance Minister Rositsa Velkova.

In order to achieve a 3% deficit, in March the caretaker government proposed changes to the tax legislation - restoring the reduced rates of VAT and "surplus profit" tax and reducing spending. However, it became clear from what was stated this week by the two largest political coalitions GERB-SDS and PP-DB that they do not support the changes in the tax legislation proposed by the caretaker government.

Similar comments were also expressed by the other parliamentary parties. For this reason, after an analysis, the caretaker government has decided to submit to the parliament a state budget bill for 2023 with a deficit of 6.4% of the GDP, which means almost BGN 12 billion /over EUR 6 billion/.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News budget caretaker cabinet deficit GDP state budget

More from category

MPs override President's veto on changes to Investment Promotion Act

The majority in parliament overcame the president's veto on the Investment Promotion Act. The bill was passed in second reading on October 24, but President Rumen Radev vetoed parts of it, arguing that the proposed rules specifically..

published on 11/6/25 4:41 PM

Construction of railway connection between Sofia and Skopje resumes

Deputy Prime Ministers and Ministers of Transport Grozdan Karadzhov and Aleksandar Nikoloski signed an agreement in Gyueshevo for the construction of a railway tunnel between Bulgaria and the Republic of North Macedonia. The facility..

published on 11/6/25 3:04 PM

Police neutralises channel for trafficking illegal migrants from Turkey to Serbia

The police have neutralized an organized crime group that transported migrants from Burgas through Sofia to the Serbian border, Sofia District Prosecutor Natalia Nikolova said at a briefing. She indicated that 13 addresses were..

published on 11/6/25 1:25 PM

WEATHER

Pick city: Sofía

Overcast, rain
Min: 8 | Max: 12

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

EC puts forward plan for developing high-speed rail Bucharest-Sofia-Athens

The European Commission has presented a proposal for developing high-speed railway lines within the EU until 2040, linking the capitals in the EU, among..

published on 11/5/25 1:20 PM

Birth rate in Bulgaria has decreased by 33% since 1994

Birth rate in Bulgaria has decreased by 33% over the past three decades. In 1994, 79,442 live births were registered in the country, while in 2024 the..

published on 11/6/25 5:15 PM

European Commission withholds payment under recovery and resilience plan over failure to implement anti-corruption reforms

The European Commission has decided to withhold EUR 215 million from the second payment under Bulgaria’s recovery and resilience plan, the EC told the..

published on 11/5/25 4:39 PM

Share