BGN 100 Million Budget for the Elections in Bulgaria
The new acting finance minister, Lyudmila Petkova, unveiled the budget for the upcoming elections, which amounts to BGN 100 million
Finance Minister Asen Vassilev announced a significant decline in the state budget deficit for November, reaching a mere 0.6%. This marks a milestone in over two decades, with revenue from taxes surpassing expenditures—a first in this time frame.
According to Vassilev, this achievement positions them comfortably within the 3% deficit requirement. He attributed this success to effective tax collection measures, indicating a noteworthy surge in collection rates. The minister expressed confidence in surpassing the budget with a deficit lower than the targeted rate.
"We've witnessed the fruits of tax collection strategies. The increased collection rates have been remarkable, allowing us to set a stable base for next year's budget," stated Vassilev, highlighting ongoing reviews in tax laws as part of the process. The discussions in the meeting primarily centered around extending support for the 2024 State Budget Bill.
This positive fiscal development reflects a stronger financial outlook and a promising trajectory for Bulgaria's economic stability and growth.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The international rating agency Standard & Poor's has reaffirmed Bulgaria's long-term and short-term credit rating at 'BBB/A-2' in both foreign and local currency
Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU