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.
Overnight, clouds over the north and east will bring brief showers. There will be light to moderate westerly winds which will increase in strength on Monday, veering north-west and bringing in cold air. Showers will be widespread, especially in the..
The Bulgarian Ministry of Foreign Affairs confirmed that there are no reports of Bulgarian citizens being injured in the fire in the Macedonian city of Kočani. The Bulgarian Embassy in Skopje is in constant contact with Macedonian authorities and..
Thirty-three Bulgarian winemakers are representing the country at the International Wine and Spirits Fair in Düsseldorf, Germany. Speaking at the opening of the Bulgarian stand, Deputy Minister of Agriculture and Food Stefan Burdzhev said:..
Fourteen people injured in the nightclub fire in the Macedonian town of Kočani have been admitted for treatment in Bulgaria, Pirogov Emergency Hospital..
A protest was held in the city of Pernik against animal abuse and for maximum sentences for two residents of the city, Gabriela Sashova..
Stefanija Alexova, a sophomore at the American University in Bulgaria (AUBG), is one of the victims of the Kočani fire. She was born in the Macedonian..
+359 2 9336 661