The draft budget, with a deficit of 6.4%, contradicts the Public Finance Act.
In a Fiscal Council position sent to parliament, experts recommend measures for restricting the deficit in the treasury and structural reforms. The consultative body recommends a deficit of up to 3% of the GDP, and states that it should not be forgotten that next year the country will be evaluated by the European Commission. If the deficit remains as set down in the draft budget, Bulgaria will enter an excessive deficit procedure. The high deficit will lead to an increase in the public debt, and even though the country will remain with a comparatively low debt-to-GDP ratio, the interest on servicing the debt will be a burden.
Bulgaria’s President Rumen Radev has issued a decree appointing Deputy Minister of Foreign Affairs Maria Angelieva as Bulgaria’s Ambassador to Hungary. The decree was promulgated in State Gazette on Tuesday, reported BTA. Maria Angelieva graduated..
The new modular multi-purpose vessel of the Bulgarian Navy, ''Hrabri'' (Brave), was launched into Varna Lake from the pier of the MTG – Dolphin shipyard. Construction of the modular multi-purpose vessel began in 2022. It is the first of two..
''Russia continues to disturb satellite and Radio Navigation Satellite System (RNSS) signals, affecting European countries’ critical infrastructure and services'', Bulgaria’s Ministry of Foreign Affairs wrote on X. Von der Leyen’s plane..
The Sofia City Court has postponed the extradition case of Igor Grechushkin, the owner of a cargo ship linked to the explosion at the port of Beirut in..
The Road Infrastructure Agency (RIA) has proposed the introduction of temporary restrictions on the movement of heavy trucks weighing over 12 tons along..
On Tuesday, minimum temperatures will range from 8 to 13°C , with Sofia seeing around 9°C. Rain is expected across the country, with heavier showers in..
Overcast, rain
Rain
Partly cloudy, chance of rain