The Ministry of Finance has published the draft of the State Budget Act for 2023. It envisages that at the end of the year inflation will be 5.6%. The projected GDP growth is 1.8 percent, relying on rise in exports and consumption. The deficit is 3%. The minimum monthly salary is raised from 357 euros to 392 euros from January 1, 2023. Pensions rise on July 1 by 12 percent.
Until 2025, no increase in taxes and social security contributions is foreseen, but improvement in revenue collection is expected. Revenues are expected to reach EUR 34,911 billion. Expenditures are EUR 37,212 billion or 40.1% of GDP.
The budget is expected to be adopted by the government by the end of June, to pass through parliament in July and to come into effect on August 1.
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The Celestial Empire, the “world’s factory”—that is China, the globe’s second-largest economy. The Asian powerhouse is actively expanding its economic reach worldwide, with the Belt and Road Initiative as the apogee of these efforts, through which..
A Bulgarian company is expanding its production of laser cutting machines in the Sofia-Bozhurishte Industrial Park, the Ministry of Economy announced. The..
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