Bulgaria’s Caretaker Govt Approves Draft Update of Budget 2014
Bulgaria’s caretaker government has approved a draft budget update.
The proposal for the update of Budget 2014 was discussed with representatives of employer organizations and trade unions Wednesday morning but they refused to back the measure, according to reports of the Bulgarian National Radio.
The resources are to cover the shortage of funds to pay salaries at the Interior Ministry and the deficit in the spheres of social benefits, emergency medical services, and psychiatric hospitals.
The budget deficit is to reach 4% of GDP on a cash basis, taking into account the impact of measures aimed at boosting revenue collection.
New government debt of up to BGN 4.5 B is to provide a reliable buffer.
Part of the money will go to a loan of up to BGN 700 M to the Bulgarian Deposit Insurance Fund (BDIF).
The amount of the government debt is to increase from the current forecast of BGN 22.5 B to BGN 28.4 B.
Caretaker Finance Minister Rumen Porozhanov commented that the budget update was necessary despite the fact that Bulgaria’s next Parliament could decide to revise it.
Bulgaria’s caretaker government also approved a BGN 100 M update of the budget of the National Health Insurance Fund (NHIF).
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria's Euro Adoption Likely Postponed: Entry Date Shifts to Second Half of 2025
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
Bulgaria Sees Surge in Lamb Prices as Retail Costs Rise
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
65.3% of Bulgarian Workers Earn Below Subsistence Level
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Bulgaria's Eurozone Entry Likely Delayed to 2026 Amid Disinformation and Economic Challenges
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
Rising Trend: Bulgarians Abroad Send Increasing Amounts of Money to Home Country
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Finance Minister Reveals: Bulgaria's Fiscal Reserve Stands at BGN 10.9 Billion
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th