Text size

Bulgaria's fiscal reserve decreasing, no reserves for higher revenues: Finance minister

published on 5/12/23 11:25 AM

Rositsa Velkova

Photo: BGNES (archive)

At the beginning of the year, the fiscal reserve was BGN 11.9 billion (EUR 6 billion), while compared to May 10, it decreased to about BGN 10.3 billion (EUR 5.3 billion), caretaker Finance Minister Rositsa Velkova announced in Parliament.

According to her, the decrease is mainly due to pension costs in the amount of BGN 1.4 billion (EUR 715 million). There is also a decrease in VAT revenues - at the end of April they were BGN 4.9 billion (EUR 2.5 billion), which is BGN 143 million (EUR 73 million) less than the same period of last year.

We have maximally strained the revenue part in the tax and social security revenue part," said the minister. According to her, there are no reserves for achieving higher revenues in the draft law on the budget.

"If there is no change to the tax legislation, there will be no reserves in the revenue part of the state budget law," Velkova said.

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

Radio Bulgaria Economy draft budget revenues Rositsa Velkova state budget

More from category

After data update, Bulgaria's GDP for 2023 has increased

In 2023, Bulgaria's GDP growth was 1.9% higher in real terms compared to 2022. This is 0.1 percent more than the initially announced growth of 1.8%, the National Statistical Institute has reported. The chairman of the institute,..

published on 10/18/24 1:30 PM

Bulgaria and North Macedonia reaffirm their commitment to continue the construction of Railway Corridor No. 8

In Brussels, Bulgaria and North Macedonia reaffirmed their commitment to continue the construction of Railway Corridor No. 8 under the TEN-T Regulation, reported the European Commission’s Directorate General for Neighborhood Policy and Enlargement..

published on 10/17/24 8:40 AM

Caretaker Minister of Innovation and Growth Rosen Karadimov

A Taiwanese technology giant wants to build a factory near Plovdiv

A Taiwanese technology giant is negotiating to build a large production facility on the territory of the Trakia Economic Zone near Plovdiv, announced caretaker Minister of Innovation and Growth Rosen Karadimov. He was briefed with the progress of the..

published on 10/16/24 6:14 PM

WEATHER

Pick city: Sofía

Rain / Snow
Min: 3 | Max: 4

BULGARIA IN PICTURES

Which world-famous Bulgarian artist designed QSL cards for Radio Bulgaria?

The value of the small consumer basket in Bulgaria has not changed in a year

Butter and vegetable oil are the products that have increased in price the most over the year. The retail price of vegetable oil will range between 3..

published on 11/29/24 5:05 PM

Share