For the first time in many years, the state has been unable to collect the projected sum om VAT – it is 670 million Leva short (EUR 335 million), the Finance Ministry has announced.
In July, parliament updated the budget, raising the projected GDP growth, and adding 11 billion Leva (EUR 5.5 billion) of expenditure. But due to the fact that differentiated VAT was retained for tourism, restaurants, bread and flour, the revenues expected have not been collected, the Finance Ministry says. The taxes collected in the 2022 budget amount to 31.6 billion Leva (EUR 15.7 billion), which is only 100 million Leva (EUR 50 million) more than planned. The overfulfilment comes from corporate tax and from taxation of incomes of natural persons, whereas indirect taxes – VAT and excise – are below the projected levels for the year, the ministry points out.
Bulgaria’s Ministry of Finance has published the draft state budget in euros for 2026. The country’s GDP is projected to reach EUR 120.1 billion, with an economic growth rate of 2.7%. Planned revenues amount to EUR 51.436 billion, or 42.8% of GDP...
In 2024, 8.2% of people aged 18 or over who declared to be at work (either employed or self-employed) in the EU were at risk of poverty, according to data from Eurostat, cited by the BNR's Horizont channel. In Bulgaria, this share reached 11.8%. The..
The two largest trade unions in Bulgaria - the Confederation of Independent Trade Unions in Bulgaria and the Confederation of Trade Unions "Podkrepa" - are organizing a warning protest in front of the Council of Ministers building. It is planned for..
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