Bulgaria is not in danger of bankruptcy. It is not in danger of the International Monetary Fund's intervention either. There is no need to take out new loans, caretaker Minister of Finance Rositsa Velkova said for the BNT with regard to media publications about two scenarios for a long-term budget forecast.
Minister Velkova assured that with a deficit of 3%, as set in the cabinet's draft law on the 2023 state budget, the country's finances are stable and there is no risk for the currency board. In Minister Velkova’s words, the budget deficit could rise to 7% of the GDP in the next four years if the revenue and expenditure policies of the last two years continue. In order to secure the payments for the current year, the draft provides for the introduction of the so-called excess profit tax- a one-off solidariy contribution for the second half of 2023, Rositsa Velkova said.
Vice President Iliana Iotova also confirmed that Bulgaria is not facing bankruptcy. In her words, yesterday's warnings of the finance minister are a signal to the political class at a time when the caretaker government is preparing a draft of a new state budget for this year. She rejected claims that the caretaker cabinet wanted to steal people's money. "I have confidence in the caretaker cabinet. As long as they work, and Rositsa Velkova is the Minister of Finance, there will be no bankruptcy of the state, nor will there be a need for new debts," the Vice President concluded.
Greek farmers in the Evros region are waiting for a long-term solution with Bulgaria on the water of the Arda River. There is still no agreement with Bulgaria on the supply of water to the Evros region, the farmers' union in..
Serbian oil and gas company Naftna industrija Srbije (NIS) announced that its board of directors has approved the sale of the company's subsidiary NIS Petrol Bulgaria. NIS has a network of 23 gas stations in Bulgaria under the..
There are no active fire outbreaks in Pirin. During the night, firefighting teams and forest officials did not allow the fire to enter high into the mountains and affect territories of the Pirin National Park. The weather is cloudy..
More than 400 musicians from Serbia, Hungary, Georgia, Colombia, the Czech Republic, Moldova and Bulgaria will participate in the 33rd..
The Council of Ministers has decided to grant a total of €460,176 in aid to families affected by the forest fires. 'Until now, they could apply for..
At a meeting of the Parliamentary Committee on Education and Science, Metropolitan Gavriil of Lovech presented the official position of the Holy Synod of..
sunshine, cloud, rain and thunder
Mostly Cloudy
Partly cloudy, chance of rain