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.
The Eurogroup has unanimously recommended that Bulgaria become the 21st member of the eurozone . The countries of the common currency area recommend to the EU Council that this should happen from 1 January next year. The finance ministers of the..
On Friday, the minimum temperatures will be from 15 to 21°C, in Sofia - around 17°C. It will be sunny before noon. Cumulus and cumulus-rainy cloudiness will develop around and after noon. In many places, mainly in Southern and Eastern Bulgaria, there..
Eurogroup president Paschal Donohoe expects a consensus at today's meeting in Luxembourg on Bulgaria's entry into the Eurozone, BNR correspondent in Brussels Angelina Piskova reported. I believe that Bulgaria's accession to the Eurozone will be..
Bulgarian Shopska Salad has earned a place among the 24 best salads in the world according to a new ranking published by CNN, BGNES reports. The fresh and..
A new medical equipment manufacturing center of the Czech company BTL Industries has opened in Plovdiv. The event was attended by President Rumen Radev,..
On Friday, the minimum temperatures will be from 15 to 21°C, in Sofia - around 17°C. It will be sunny before noon. Cumulus and cumulus-rainy cloudiness..
Partly cloudy, chance of rain
Mostly Cloudy
Partly Cloudy
sunshine, cloud, rain and thunder