Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Tax Freedom Day in Bulgaria falls on 4 May 2018: Institute for Market Economics

| updated on 1/2/18 10:49 AM

We shall be working 4 months this year to fill up the state treasury, analysts from the Institute for Market Economics say. Every year they calculate how much Bulgarians have to pay for the services the state offers.

“This year Tax Freedom Day falls on 4 May. Taking that until then we will have worked to fill up the government coffers, afterwards we will be working only for our own selves, redistributing 36 percent revenues,” says Petar Ganev from the Institute for Market Economics.

“We are always somewhere around the 35, 36, 37 percent mark for redistribution, and adding European funding, the figure comes up to around 40 percent. But a discrepancy is observed between what goes into the budget and what happens at the end of the year.”

Economists talk of turning full circle from the adoption of the budget with a deficit, to a surplus at the end of the year. This is a practice that has to stop, says Petar Ganev:

“There is money in the budget. The question is how effectively we are spending it, as there will obviously be more money for the social systems. Around 500 million more for the health system, 500 million more for education. It is important whether this money is reaching more people.”



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Caretaker Premier Dimitar Glavchev

Premier Glavchev: Bulgaria has not been pressured to change its position on North Macedonia

Bulgaria's position regarding the Republic of North Macedonia remains unchanged - our country insists that the signed agreements be respected, caretaker Premier and Minister of Foreign Affairs Dimitar Glavchev said at a hearing in Parliament on the..

published on 7/4/24 2:58 PM

Bulgaria is an attractive destination for dental tourism

The Balkans are attracting more and more medical tourists, with Turkiye being the undisputed leader, ranking among the top 10 most preferred countries for health tourism, according to the jury of the ninth edition of the BALKAN MEDICAL AWARDS 2024,..

published on 7/4/24 1:53 PM

The Ministry of Labor and Social Policy provides temporary employment for 2,800 unemployed

In the coming months of 2024, around 2,800 unemployed people will start working under the regional employment programs, the press center of the Ministry of Labor and Social Policy reported. The programmes are funded by the Ministry of Labour and..

published on 7/4/24 12:46 PM