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.
On Wednesday minimum temperatures will range from 18° C. to 22° C., for Sofia 18° C. During the day the weather will be predominantly sunny with temporary clouds. Cumulus clouds will develop after midday over the mountains in Eastern Bulgaria and..
The REXDAN ship, which is conducting a large-scale study of the configuration and dynamics of the Danube River - from the Black Sea to Vienna , has docked near Bulgaria's town of Ruse. The vessel is owned by the Lower Danube University in the Romanian..
“Entering the Eurozone does not present any risk to Bulgaria. Adopting the Euro can only serve as a powerful accelerator for our economic growth,” said Deputy PM and Minister of Innovation and Growth Tomislav Donchev during the discussion “The..
Bulgarian students won four medals at the International Chemistry Olympiad (IChO). They earned one gold, one silver and two bronze medals at the..
From 1 January 2026, Bulgaria will join the Eurozone , and the lev and stotinki will become a thing of the past. While the new currency will have a..
Bulgaria’s candidate for judge at the Court of Justice of the European Union , Associate Professor Alexander Kornezov, has been approved , lex.bg..
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