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.
On Saturday, the minimum temperatures in Bulgaria will be from 8 to 13C, in Sofia – 10C. During the day, cloudy weather will prevail. Rain is expected in the southwestern regions. A moderate wind will blow from the east-northeast. Maximum..
In economic terms, Bulgaria is highly dependent on carbon-intensive production and is particularly vulnerable to the risk of these productions being shifted to countries with weaker environmental standards, with the corresponding loss of jobs and a..
Currently, out of nearly 8,000 children deprived of parental care, just 850 have permission for full adoption. This was announced by Deputy Minister of Labor and Social Policy Ivan Krastev at a roundtable in Sofia, specifying that about 3,700 children..
Over the next 24 hours, cloud cover will be mostly significant. There will be rain showers in some areas of Western Bulgaria and the far southeastern..
Foreign Minister Georg Georgiev met Qatar’s Minister of State for Foreign Affairs, Sultan bin Saad Al-Muraikhi , on the sidelines of the 80th session of..
Marina Gugusheva, who studies medicine at Sofia University St Kliment Ohridski, is spending a month at Zagazig University under an international exchange..
Partly cloudy, chance of rain
Cloudy
Mostly Cloudy