Preliminary data on the implementation of the budget show that the deficit will be lower than planned, Bulgaria’s Minister of Finance Assen Vassilev said in parliament.
"I expect the deficit to be 2.5%, not 3%. This will leave EUR 500 million that we can use to support next year’s municipal projects, which refutes all dark scenarios that the state will go bankrupt", said Minister Vassilev. According to Assen Vassilev these data give grounds from the euro area perspective to say that the deficit criterion is fully met this year. Next year’s budget is also within the Maastricht criteria. "The only thing that remains is the inflation criterion", Assen Vassilev explained. He added that inflation is largely imported through food and energy sources. According to Minister Vassilev, in June-July 2024 Bulgaria is expected to meet this criterion as well, because prices are falling, and so the country can safely enter the euro area.
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