The budget deficit to be set down in budget 2023 will be 3% on an accrual basis. In the words of Finance Minister Assen Vassilev, that means a deficit of 4.5 billion Leva (euro 2.31 bn.). Minister Vassilev presented the main parameters of the draft budget for the year, to be submitted to the National Assembly at the beginning of July.
Before that, during the forum of the National Association of Pamporovo Municipalities, PM Nikolay Denkov announced that there will be a tangible increase in the funding for municipalities – by almost 25% - in the regular budget for this year. Because of the flooding and the damages inflicted, the disaster fund has been increased, from the EUR 40 million set down in the draft budget of the caretaker cabinet, to EUR 65 million. Around EUR 30 million of this money has so far been spent, which means that with the new sum set down, there will be around EUR 35 million available, plus possible buffers, if the need arises.
To come into effect as of 1 August, the budget needs to be adopted by the end of July.
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By mid-2026, Bulgaria should be removed from the Financial Action Task Force (FATF) “grey list” of countries with deficiencies in its anti-money..
Plovdiv Airport welcomed the first flight from Milan (Malpensa) with an official ceremony on October 26. The aircraft carried 87 passengers on the newly..
The “water meter fee” will be removed from the proposed amendments to the Water Supply and Sewerage Services Regulation Act, Minister of Regional..
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