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.
Political stability in Bulgaria continues to be crucial for the adoption of the euro in 2026, writes ING think, the analytical unit of ING bank. The analysis is titled “Monitoring Bulgaria: Euro adoption is looming, but not yet a fact,” BTA reported...
There is strict police control in the 30-kilometer border zone with Greece and Romania , announced the director of the Bulgarian Border Police Anton Zlatanov. He explained that after the country's entry into Schengen, checks are carried out on every..
The first meeting of the Diplomatic Club in Odessa was held on March 13 with the participation of diplomats and honorary consuls in the Odessa region, including Bulgarian Consul General Svetoslav Ivanov. The club was created as a platform for open..
A protest is taking place in Sofia to demand maximum sentences for a man and a woman who killed animals in a particularly cruel way. So far, nearly..
In response to the tragedy in North Macedonia, where more than 50 people lost their lives in a fire at a nightclub in the town of Kočani, Foreign..
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..
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