Text size

Bulgarian Economy Minister: The state will stop payments if there is no new budget by June 10

published on 5/21/23 11:17 AM

Caretaker economy minister Nikola Stoyanov

Photo: BGNES

After June 10, when the extended law on the state budget expires, the state will not be able to make payments, said caretaker Minister of Economy Nikola Stoyanov in an interview for the Bulgarian National Television.

"When there is no adopted budget or the law on the extension of the budget has expired, the country must return to a zero balance - it can spend only if the budget is a budget surplus and when it is in deficit, it has no right to spend anything. This would lead to the impossibility of paying salaries", he explained.

According to him, the pensions for June will be paid by June 10, but in theory the state should stop all payments.

"I am firmly convinced that the members of parliament are aware of this responsibility and will adopt either a new budget or at least an extension of the current one," added the minister. However, he is skeptical that a new state budget will be voted on by that date.

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

Radio Bulgaria News economy minister Nikola Stoyanov state budget

More from category

European Council President meets Bulgarian Prime Minister and President

For two decades Bulgaria has known what it is striving for, Prime Minister Rosen Zhelyazkov said after a meeting with President of the European Council António Costa, who arrived on a three-day visit to Bulgaria. Zhelyazkov pointed..

published on 4/28/25 8:55 AM

Bulgarian President Rumen Radev will participate in the Three Seas initiative

Bulgarian President Rumen Radev begins his two-day visit to Warsaw at the invitation of his counterpart Andrzej Duda. In the Polish capital, he will participate in the 10th Summit of the “Three Seas” initiative to deepen cooperation in the energy,..

published on 4/28/25 7:35 AM

Bulgarian National Bank issues commemorative silver coin with the image of Zahari Stoyanov

The Bulgarian National Bank is issuing a new silver commemorative coin from the “Bulgarian National Revival” series , the institution announced today. This time the coin is on the theme of “175 years since the birth of Zahari Stoyanov”. The..

published on 4/28/25 6:10 AM