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 May 23, 24 and 25, the Festival of Crafts and Art takes place in Dobrich. Artists from all over the country will take part in it and present Bulgarian traditions and culture. Graduates of specialized educational institutions..
Primorsko is the new seaside capital of sports and culture, the municipality announced. Today, the European Sailing Cup event for the Olympic classes ILCA 6 and ILCA 7 officially starts in the town. The competition, in which 50..
Friday will be mostly sunny. Cumulus clouds will form in the afternoon and in many places there will be short-term, temporarily intense precipitation - significant in the Danube Plain and Eastern Bulgaria. Temperatures will rise and..
Banking services in Bulgaria are among the most accessible in the EU, according to an analysis by the Association of Banks in Bulgaria . According to it,..
The Trade Union of Bulgarian Medical Specialists has declared readiness for protest actions and an effective strike, according to a statement published..
In recent years, Bulgaria has been collecting and processing 15,000 tons of herbs annually . Nearly 90% of them are exported. More than 200 herbs are..
sunshine, cloud, rain and thunder
Partly cloudy, chance of rain