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.
If there is no parliamentary group of the ''Morality, Unity, Honor'' party (MECH) on March 26, we will start blockades, said MECH leader Radostin Vassilev at a press conference. He demanded the resignation of National Assembly Speaker Natalia..
Another major infrastructure project in Bulgaria is moving forward. The technical project for the construction of the tunnel under Mount Shipka will be ready this year. If approved, the construction of the facility will begin as early as 2025,..
Nearly half of Bulgarians prefer the cabinet to continue governing over the alternative of new elections. However, the majority does not believe that Rosen Zhelyazkov’s cabinet will complete a full term, indicates data of a representative survey..
Bulgaria has improved its rating in the World Happiness Report , but remains 85 th out of 147 countries, which is the lowest position for an EU..
The importance of eurozone membership for Bulgaria was the focus of Prime Minister Rosen Zhelyazkov's meeting with European Central Bank President..
Bulgaria’s Minister of Foreign Affairs Georg Georgiev had a phone conversation with his Israeli counterpart Gideon Sa'ar. Israel’s Foreign Minister..
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