Podcast in English
Text size
Bulgarian National Radio © 2024 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

Iliana Iotova

Vice President Iliana Iotova: Whether the parliament will survive is up to the political parties

Two very important procedures depend on the election of president of parliament. Talking to reporters, Vice President Iliana Iotova said that if a president of the National Assembly is elected, then a national budget can be submitted and the president..

published on 11/29/24 11:26 AM

Sheep infected with smallpox in Zhelyo Voivoda village to be euthanized

In Zhelyo Voivoda village, a flock of sheep infected with smallpox will be euthanized after laboratory tests confirmed that the animals are indeed infected. BNR’s correspondent in Sliven reports, citing the local administration, that the animals..

published on 11/29/24 10:47 AM

Low emission zone put in place in Sofia as of 1 December

As of 1 December until the end of February, driving an old car in the centre of Sofia will be subject to a EUR 25-100 fine. The fines for legal entities will be 10 times higher – from EUR 500 to EUR 1,000. The low emission zone was put in place..

published on 11/29/24 10:25 AM