Text size

Interim Finance Minister promises no tax or social contribution increases in 2025

Ministry of Labour and Social Policy proposes increase in the pension insurance contribution

published on 11/18/24 4:46 PM

Lyudmila Petkova

Photo: BTA

Deputy Prime Minister and Finance Minister Lyudmila Petkova has pledged that there will be no increase in social contributions, corporate or personal income taxes in 2025. The Covid-19 pension supplements will not be discontinued and the budget deficit for 2025 will remain within 3% of GDP, fulfilling the requirements for Bulgaria's entry into the eurozone.

Budget revenues will be boosted by an increase in excise duties on cigarettes, a review of whether VAT on bread should remain at 0%, a restoration of other VAT to its pre-pandemic level of 20%, and more efficient collection of tax and social contribution arrears.

Meanwhile, the Ministry of Labour and Social Policy has published an analysis of the mandatory pension insurance system on its website. The report proposes a number of measures, including an increase in the pension insurance contribution rate and the abolition of the EUR 30 COVID-19 supplement for new pensioners.

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

Radio Bulgaria News 2025 labour and social policy ministry of finance pensions social contribution tax increases

More from category

Bulgarian union leader warns of BGN 17–18 billion shortfall in draft budget

Plamen Dimitrov, president of Bulgaria’s largest trade union, the Confederation of Independent Trade Unions in Bulgaria (CITUB), has warned of a potential shortfall of around 17–18 billion leva (EUR 8.7–9.2 billion) in next year’s draft budget...

published on 10/17/25 3:16 PM

North Macedonia's PM rules out unconditional constitutional recognition of Bulgarians

North Macedonian Prime Minister Hristijan Mickoski said his government will not unconditionally recognise Bulgarians in the country’s constitution. “Nobody has the right to expect this government to make constitutional changes unconditionally,” he told..

published on 10/17/25 2:36 PM

Bulgarian rectors propose Danube University Alliances

‘The Bulgarian Rectors’ Council has proposed the creation of Danube University Alliances,’ said Professor Miglena Temelkova, the Council's chair, at the ‘Days of Bulgaria in Kecskemét, Hungary’ forum. The idea is for the alliances to include..

published on 10/17/25 2:13 PM