Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

BICA: The budget deficit will reach 7% if nothing changes

Vasil Velev
Photo: BGNES

The national priorities must be Schengen membership by the end of this year, entering the Eurozone by January 2025 and the Organization for Economic Cooperation and Development (OECD) by 2026, said the Bulgarian Industrial Capital Association (BICA). Employers expect MPs to elect a National Assembly speaker and a regular cabinet and adopt a regular budget, BICA President Vasil Velev said for the BNT. BICA calls for reducing the costs for administration, which increased with 112% as compared to 2019. According to BICA, social spending also increased too much.

“If nothing changes, there will be a budget deficit of about 7%. If our goal is to have a 3% deficit, our GDP has to be twice as big, which cannot happen in the next 5 or 6 years”, Vasil Velev said.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Ahmed Dogan

Ahmed Dogan supporters to discuss idea of forming a new party

Ahmed Dogan’s supporters will hold an extraordinary meeting of their party’s central operative bureau to discuss the idea of creating a new political party, BGNES reports. According to unofficial data, its leader will be MP Ilhan Kyuchyuk. The..

published on 5/30/25 9:23 AM

The attempts to attack me over the enactment of the law on adoption of the Euro are a manipulation, President Radev says

“The attempts to attack me over the fact that I enacted the law on adoption of the Euro are a vapid manipulation because there are absolutely no dates in this law, there are conditions and procedures,” President Rumen Radev told reporters. He was..

published on 5/30/25 8:51 AM

Ruse hosts business forum on benefits of Eurozone membership

Today, a conference dedicated to the advantages of Bulgaria joining the eurozone will be held in Ruse, as reported by the Bulgarian News Agency (BTA). The business forum, organized by the Regional Administration, will feature former President Petar..

published on 5/30/25 7:35 AM