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Bulgarian Economy Minister: The state will stop payments if there is no new budget by June 10

published on 5/21/23 11:17 AM

Caretaker economy minister Nikola Stoyanov

Photo: BGNES

After June 10, when the extended law on the state budget expires, the state will not be able to make payments, said caretaker Minister of Economy Nikola Stoyanov in an interview for the Bulgarian National Television.

"When there is no adopted budget or the law on the extension of the budget has expired, the country must return to a zero balance - it can spend only if the budget is a budget surplus and when it is in deficit, it has no right to spend anything. This would lead to the impossibility of paying salaries", he explained.

According to him, the pensions for June will be paid by June 10, but in theory the state should stop all payments.

"I am firmly convinced that the members of parliament are aware of this responsibility and will adopt either a new budget or at least an extension of the current one," added the minister. However, he is skeptical that a new state budget will be voted on by that date.

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Radio Bulgaria News economy minister Nikola Stoyanov state budget

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Bulgarian Economy Minister: The state will stop payments if there is no new budget by June 10

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