Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Borislav Gutsanov: There will be no increase in taxes or suspension of social payments

Minister of Labor and Social Policy Borislav Gutsanov
Photo: BGNES-archive

There will be no increase in taxes or suspension of social payments, Minister of Labor and Social Policy Borislav Gutsanov said in an interview with public broadcaster BNT. Borislav Gutsanov stated that the Ministry of Labor and Social Policy will not be affected and people will not feel a lack of funds, despite the deficit (around EUR 9 billion). According to Minister Gutsanov, the largest gap in the state budget comes from the increase in pensions and salaries in the Ministry of Defense and the Ministry of the Interior, but these are decisions made by the National Assembly. "These people deserve higher incomes", Borislav Gutsanov clarified.

Borislav Gutsanov added that the Council of Ministers will decide whether to take money from the fiscal reserve, but even if such a step is taken, it will be very limited. At the moment, this fiscal reserve is about EUR 4.5 billion, and the minimum that must always be kept is just over EUR 2 billion, meaning "there is still a sufficient reserve", Minister Gutsanov explained. In his words, the draft state budget will be submitted to parliament by mid-February. There are plans on how to cover the 9 billion euro gap, Borislav Gutsanov commented. According to him, the decision not to request a convergence report for the euro area is not a mistake. In his words, it should be done once the real financial situation is established and a budget is adopted.




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

In the border regions of Kyustendil foreigners already want to pay in euros

Foreigners often want to pay in euros. The reason is that the goods already have a price in the European currency, the commercial establishments in Kyustendil say. Sellers have some difficulties explaining that this cannot be done..

published on 10/22/25 8:50 AM

Ancient villa beneath Sofia set for a new chapter

Today, architecture students from the University of Architecture, Civil Engineering and Geodesy in Sofia are presenting new proposals for integrating the remains of the Roman Villa Rustica into the city's modern urban environment. Their aim,..

published on 10/22/25 8:30 AM

Warm autumn weather in the forecast

On Wednesday minimum temperatures will range between 3° C. and 8° C., for Sofia around 4° C. Visibility will be diminished in the morning in the valleys and lowlands. During the day the weather will be predominantly sunny with a temporary increase..

published on 10/21/25 6:45 PM