Bulgarian Parliament to Vote on Budget 2013

Business » FINANCE | December 4, 2012, Tuesday // 20:45| Views: | Comments: 0
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Bulgaria: Bulgarian Parliament to Vote on Budget 2013 The plenary hall of the Bulgarian Parliament. Photo by BGNES

Bulgaria's Parliament will hold second reading votes on the country's state budget for 2013 starting Wednesday.

Together with the law on the budget for next year, Parliament will also vote on the related budgets for social and health insurance.

The bill provides for a GDP growth of 1.9% mainly driven by domestic demand and a deficit of around 1.3%.

The employment and unemployment rates are expected to stay the same as in 2012.

Budget 2013 envisages increased allocations in the following priority sectors: culture, up by BGN 35 M, healthcare, up by 91 M, public infrastructure, up by BGN 510 M, and agriculture, up by BGN 196 M.

Starting January 2013, the minimum wage will increase by BGN 20 to BGN 310, and the minimum social security thresholds will go up from BGN 2000 to BGN 2200.

As of April 2013, pensions will increase on a differentiated basis by an average 9%.

Starting 2013, a new tax will enter into force – interest earnings from deposits of natural persons will be taxed at 10%.

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Tags: Budget 2013, state budget, deficit, growth, tax
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