Text size

Caretaker cabinet proposes a 2023 state budget with a 6.4% deficit

published on 4/21/23 7:10 PM

Photo: BGNES

The caretaker government is proposing a state budget bill for 2023 with a deficit of 6.4% of the GDP, or more than twice the 3% required by the Eurozone criteria. This was announced at a briefing by Prime Minister Galab Donev and Finance Minister Rositsa Velkova.

In order to achieve a 3% deficit, in March the caretaker government proposed changes to the tax legislation - restoring the reduced rates of VAT and "surplus profit" tax and reducing spending. However, it became clear from what was stated this week by the two largest political coalitions GERB-SDS and PP-DB that they do not support the changes in the tax legislation proposed by the caretaker government.

Similar comments were also expressed by the other parliamentary parties. For this reason, after an analysis, the caretaker government has decided to submit to the parliament a state budget bill for 2023 with a deficit of 6.4% of the GDP, which means almost BGN 12 billion /over EUR 6 billion/.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News budget caretaker cabinet deficit GDP state budget

More from category

Ministers of Tourism of Bulgaria Miroslav Borshosh (R) and Tonci Glavina meet in in Zagreb.

The Bulgarian tourism sector is all set for the adoption of the euro, Minister Borshosh says

Minister of Tourism Miroslav Borshosh held a working meeting with his Croatian counterpart, Tonci Glavina, in Zagreb this week , the Ministry of Tourism announced today. The conversation focused on the potential advantages of adopting the euro for..

published on 5/23/25 4:38 PM

President refers rejected euro referendum request to Constitutional Court

President Rumen Radev today referred a rejected proposal for a national referendum on adopting the euro to the Constitutional Court. He is seeking a binding interpretation of the Constitution, as well as the annulment of National Assembly Chairwoman..

published on 5/23/25 4:27 PM

Seattle proclaims 24 May Bulgarian Cultural Heritage Day

May 24 has been declared Bulgarian Cultural Heritage Day in Seattle , according to BNR correspondent Elena Tsaneva in Chicago. 'May 24 marks the creation of the Cyrillic alphabet, which became a cornerstone of literacy and communication for..

published on 5/23/25 4:13 PM