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.
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..
The Minister of Tourism, Miroslav Borshosh, met with the Ambassador of the United Kingdom to Bulgaria, His Excellency Nathaniel Copsey. They discussed opportunities for expanding bilateral cooperation in tourism and developing specific initiatives to..
In Rome, Bulgarian Prime Minister Rosen Zhelyazkov met the Grand Chancellor of the Order of Malta, Riccardo Paternò di Montecupo. Zhelyazkov emphasised that Bulgaria values the Order's noble and humanitarian activities, which align with the shared..
55% of Bulgarians do not feel informed about the introduction of the euro in Bulgaria, while 41% express the opposite opinion, according to a..
The Trade Union of Bulgarian Medical Specialists has declared readiness for protest actions and an effective strike, according to a statement published..
Friday will be mostly sunny. Cumulus clouds will form in the afternoon and in many places there will be short-term, temporarily intense..
Thunderstorms 
Partly cloudy, chance of rain
Occasional showers
sunshine, cloud, rain and thunder