Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Interim Finance Minister promises no tax or social contribution increases in 2025

Ministry of Labour and Social Policy proposes increase in the pension insurance contribution

Lyudmila Petkova
Photo: BTA

Deputy Prime Minister and Finance Minister Lyudmila Petkova has pledged that there will be no increase in social contributions, corporate or personal income taxes in 2025. The Covid-19 pension supplements will not be discontinued and the budget deficit for 2025 will remain within 3% of GDP, fulfilling the requirements for Bulgaria's entry into the eurozone.


Budget revenues will be boosted by an increase in excise duties on cigarettes, a review of whether VAT on bread should remain at 0%, a restoration of other VAT to its pre-pandemic level of 20%, and more efficient collection of tax and social contribution arrears.


Meanwhile, the Ministry of Labour and Social Policy has published an analysis of the mandatory pension insurance system on its website. The report proposes a number of measures, including an increase in the pension insurance contribution rate and the abolition of the EUR 30 COVID-19 supplement for new pensioners.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

European Commissioner for Home Affairs Ylva Johansson

European Commissioner Ylva Johansson is optimistic about Bulgaria and Romania’s entering the Schengen Area by land soon

“It’s time to lift internal border controls now,” European Commissioner for Home Affairs Ylva Johansson believes. In an interview with RFE/RL she said she was optimistic about Austria’s decision. Asked what the arguments are for blocking the..

published on 11/22/24 9:45 AM
Constitutional Court building

Constitutional Court opens case following President Radev’s request for the constitutional changes to be annulled

The Constitutional Court has opened a case following the request by President Rumen Radev for the amendments to the Constitution, endorsed by the 49 th National Assembly, to be declared unconstitutional. These amendments concern the lifting of the..

published on 11/22/24 9:13 AM

Stormy winds, highs ranging from 6 to 20 degrees

On Friday, the wind from the south will increase and will be moderate and strong, near the northern slopes of the mountains of southern Bulgaria stormy wind is expected Clouds will be patchy, significant over the western areas, but will quickly begin..

published on 11/21/24 7:35 PM