The draft budget, with a deficit of 6.4%, contradicts the Public Finance Act.
In a Fiscal Council position sent to parliament, experts recommend measures for restricting the deficit in the treasury and structural reforms. The consultative body recommends a deficit of up to 3% of the GDP, and states that it should not be forgotten that next year the country will be evaluated by the European Commission. If the deficit remains as set down in the draft budget, Bulgaria will enter an excessive deficit procedure. The high deficit will lead to an increase in the public debt, and even though the country will remain with a comparatively low debt-to-GDP ratio, the interest on servicing the debt will be a burden.
On Wednesday, minimum temperatures will range between 17°C and 23°C , with Sofia at 17°C. The morning will be mostly sunny, but atmospheric instability is expected to develop in the afternoon. Cumulonimbus clouds will form, leading to brief showers and..
Bulgarian Patriarch Daniil will lead a patriarchal liturgy in the village of Yahinovo, Dupnitsa municipality, this Saturday, BTA has reported. Locals define the upcoming visit of the head of the Bulgarian Orthodox Church to the church "St. Petka" as a..
Ahmed Dogan has announced the upcoming creation of a new political project, which will be "the successor to the historical mission of the DPS - to protect the rights of minorities and every Bulgarian citizen, to participate in real politics, to..
Two children, aged five and seven, ran away from their preschool in Sofia, prompting police involvement. The authorities were notified approximately one..
On Tuesday, the lowest temperatures will range from 17°C to 24°C, in Sofia 17°C. It will be sunny during the day, with temporary increases in..
Bulgaria and six other EU member states have not signed a joint statement condemning Israel over the situation in Gaza. The statement was signed..
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