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Interim Finance Minister Rumen Porozhanov is adamant the budget should be overhauled and has vowed to table an update proposal. Photo by BGNES
Bulgaria's Finance Ministry has warned social and healthcare spending will face significant shortages due to the state budget deficit currently estimated at BGN 3 B.
On Saturday the institution announced the 2014 deficit, under the update proposal being drafted by officials, will be 4-4.2 percent, and fresh state debt of about USD 4.5 B will be needed to tackle outstanding problems.
A new loan would include some BGN 700 M worth of liquidity support and additional tranches for the Deposits Insurance Fund (BDIF).
Deflation in 2014 is likely to surpass 1%, and projected GDP growth is 1.5 percent, down from previously expected 1.8 percent.
If approved, the new figures will raise state debt to BGN 22.5 B, or 28.4% of projected GPD of about BGN 81 B.
The current caretaker government is unable to overhaul the budget, since there is no acting Parliament to pass or reject the motion.
Georgi Bliznashki's cabinet, however, has vowed to submit a complete proposal to the next legislature which is to be constituted after the early elections next Sunday, October 5.
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
At a session of the Council of Ministers, the government approved a draft law amending and supplementing the existing budget extension legislation, the acting Minister of Finance Georgi Klisurski announced.
Caretaker Finance Minister Georgi Klisurski has urged all departments, ministries, and municipalities to implement the planned 5 percent salary increase for public sector employees, noting that many have not yet done so despite it being provided for in th
The consolidated fiscal program (CFP) for 2025 closed with a deficit of BGN 6,828.3 million (approximately EUR 3.49 billion), representing 3.1 percent of the projected gross domestic product.
Outgoing Defense Minister Atanas Zapryanov has signaled that Bulgaria’s political instability and the ongoing extended budget will force a halt in the modernization of the armed forces until a new budget is approved and recruitment of new personnel is pau
For the first quarter of 2026, the country will operate under an extension law, which limits state spending to the revenues collected each month
The Ministry of Finance has released a broad public dataset covering more than 7,000 public procurement contracts with a combined value exceeding 30 billion euros
Caretaker Finance Minister Georgi Klisurski said he expects fuel prices at gas stations to ease in the coming period, pointing to a sharp decline in international oil markets
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
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