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.
Bulgaria's Prime Minister Rosen Zhelyazkov has invited King Charles III to visit Bulgaria again , the Council of Ministers announced. The two spoke at the royal reception organized on the occasion of the Berlin Process summit in London , which..
Legislative amendments banning individuals sanctioned under the global Magnitsky law from holding senior government or party positions will likely be submitted to Parliament as early as Thursday by the Vazrazhdane party, MP Petar Petrov told BNR...
The Renew Europe political group in the European Parliament has established a working group to examine instances in which the Bulgarian government may have acted against the rule of law. The move comes in response to what the group describes as..
Saturday will start off with lows between 6°C and 11°C, dropping to around 6°C in Sofia. Skies will brighten for a time over northern Bulgaria before..
"Bulgaria expresses strong solidarity with Lithuania following Russia's repeated violations of European airspace, a clear example of deliberate breaches..
The annual planned maintenance of Kozloduy NPP Unit 6 starts today and is expected to last until early December, the nuclear power plant has announced...
Rain
Partly cloudy, chance of rain
Overcast, rain
Cloudy
Scattered showers