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

The caretaker cabinet’s draft budget will lead to an excessive deficit procedure, the Fiscal Council says

| updated on 4/28/23 6:05 PM
Photo: expert.bg

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. 



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

Bulgaria's second-largest trade union "Podkrepa" opposes draft Budget 2026

The Confederation of Labor "Podkrepa" does not support the government's proposed state budget for 2026 , the union announced.  As reasons, the second most important trade union in the country points out "the lack of policies and reforms to address..

published on 11/6/25 10:35 AM

Mysterious Russian ship sails near Black Sea coast

The phantom ship VIVA 962 has changed at least 10 names and many owners before it surprisingly appeared near Cape Emine on November 1. The crew consists of a captain and a mechanic with Ukrainian passports from Kharkov, reports the "24 Chasa" portal...

published on 11/6/25 10:12 AM

Bulgaria insists on building bridges over the Danube near Silistra and Nikopol

More bridges over the Danube are not just a bilateral issue between Bulgaria and Romania – they are a strategic priority for the prosperity of the entire EU and for our collective security within NATO.  This was emphasized by Deputy Prime Minister..

published on 11/6/25 8:46 AM