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MPs raise ceiling on budget deficit

Photo: BGNES

The budget deficit will be able to exceed 3% of gross domestic product in exceptional circumstances. This was decided by the parliament with the adoption of amendments to the Public Finance Act at second reading. According to the current regulations, the budget deficit could not exceed 2% of GDP.

In April, due to the coronavirus crisis, the European Commission allowed each member state to temporarily exceed a deficit of 3%, reporter Dobrina Karambolova informed.



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