Text size

Bulgaria's fiscal reserve decreasing, no reserves for higher revenues: Finance minister

published on 5/12/23 11:25 AM

Rositsa Velkova

Photo: BGNES (archive)

At the beginning of the year, the fiscal reserve was BGN 11.9 billion (EUR 6 billion), while compared to May 10, it decreased to about BGN 10.3 billion (EUR 5.3 billion), caretaker Finance Minister Rositsa Velkova announced in Parliament.

According to her, the decrease is mainly due to pension costs in the amount of BGN 1.4 billion (EUR 715 million). There is also a decrease in VAT revenues - at the end of April they were BGN 4.9 billion (EUR 2.5 billion), which is BGN 143 million (EUR 73 million) less than the same period of last year.

We have maximally strained the revenue part in the tax and social security revenue part," said the minister. According to her, there are no reserves for achieving higher revenues in the draft law on the budget.

"If there is no change to the tax legislation, there will be no reserves in the revenue part of the state budget law," Velkova said.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy draft budget revenues Rositsa Velkova state budget

More from category

Property prices in Sofia rise 25.5% in a year

The average price of apartments sold in Sofia in the third quarter of 2025 reached €2,310 per square metre , marking an annual increase of 25.5%, according to data from Bulgarian Properties. While new developments remain popular, limited supply and..

published on 11/26/25 4:36 PM

Natural gas prices to fall by over 4% in December

Natural gas prices in Bulgaria are set to fall by just over 4% in December , significantly higher than the previously forecast 1% drop, according to calculations by state-owned supplier Bulgargaz, reported BNR correspondent Yuliyana Kornazheva. This..

published on 11/26/25 2:22 PM

IMF assesses Bulgaria's near-term growth outlook as positive

The Executive Board of the International Monetary Fund (IMF) has concluded the 2025 Article IV Consultation with Bulgaria. According to the IMF’s procedure for assessments and recommendations, domestic demand is driving a robust expansion of the..

published on 11/25/25 10:18 AM

WEATHER

Pick city: Sofía

Rain
Min: 8 | Max: 8

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

Property prices in Sofia rise 25.5% in a year

The average price of apartments sold in Sofia in the third quarter of 2025 reached €2,310 per square metre , marking an annual increase of 25.5%,..

published on 11/26/25 4:36 PM

Natural gas prices to fall by over 4% in December

Natural gas prices in Bulgaria are set to fall by just over 4% in December , significantly higher than the previously forecast 1% drop, according to..

published on 11/26/25 2:22 PM

Share

Bulgaria's fiscal reserve decreasing, no reserves for higher revenues: Finance minister

More from category

Property prices in Sofia rise 25.5% in a year

Natural gas prices to fall by over 4% in December

IMF assesses Bulgaria's near-term growth outlook as positive

Property prices in Sofia rise 25.5% in a year

Natural gas prices to fall by over 4% in December