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Bulgaria does not meet all the criteria for the eurozone, the 2025 budget is stalling

Caretaker Finance Minister Lyudmila Petkova
Photo: BGNES

The budget execution will be 3%. In the National Assembly, Deputy Prime Minister and Caretaker Minister of Finance Lyudmila Petkova pointed out that this is the result of the efforts being made, and not the result of budget planning, because a large part of the expenses were not planned in it.

Petkova has warned that the difference between revenues and expenses will be 9 billion euros, and to achieve a 3 percent deficit, measures amounting to 6 billion euros are needed. 

Lyudmila Petkova announced that the Ministry of Finance will abandon the introduction of the Mineral Resources tax. However, the concession fee will be increased in order to compensate, at least partially, the expected revenues from this, and a one-time fee will be introduced, which will be paid by mining companies.

Another part of the revenues will come from Bulgaria's entry into Schengen. According to Petkova, Bulgaria still does not meet all the criteria for joining the eurozone and only after their fulfillment will a communication campaign be undertaken. 

In the plenary hall, the deputies demanded that a new budget for 2015 be prepared, but did not propose specific changes and measures. According to GERB-SDS, the planned 10 billion euros higher revenues are unrealistic, and PP-DB indicated that everyone should find mechanisms together to control the situation and, if necessary, postpone some expenses. DPS New Beginning pointed out that people are interested in income, not the budget deficit. BSP also did not approve the budget and proposed that an excess profit tax be introduced for banks. 

ITN, Vazrazhdane and MECH parties also pointed out that they could not support the budget. 

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