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.
During the night, the cloud cover over most of the country will be mostly significant, and there will be light rain in some areas in Western Bulgaria. There will be a light wind, moderate in Northeastern Bulgaria. The lowest temperatures will range..
Thousands of motorcyclists from Southern Bulgaria gathered in Plovdiv for the first motorcycle season opening event of the year. The bikers paraded with an impressive motorcade through the streets of the city and continued towards Bachkovo Monastery,..
Bulgarian and a Romanian were given a second chance at life after the relatives of a 68-year-old woman made the noble decision to donate her organs. The donor situation was carried out by a team from the "Dr. Stefan Cherkezov" Hospital in Veliko..
On Saturday, the minimum temperatures in Bulgaria will be from minus 2 to 3°C. In Sofia it will be around 0°C. During the day it will be sunny with..
Nearly half of Bulgarians prefer the cabinet to continue governing over the alternative of new elections. However, the majority does not believe..
After a 22-hour session, the parliament approved the state budget for 2025. 138 MPs voted in favour, 78 voted against and two MPs abstained...
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