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Bulgarian MPs to Pass Final State Budget 2014

Business » FINANCE | December 3, 2013, Tuesday // 08:09| Views: 760 | Comments: 0
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Bulgarian MPs to Pass Final State Budget 2014: Bulgarian MPs to Pass Final State Budget 2014 The State budget for next year already passed first reading in mid-November with the votes of 116 Members of the Parliament. File photo BGNES

Bulgarian lawmakers will be working overtime Tuesday to hold a final vote on State budget for 2014.

Tuesday is not a day when the Parliament holds sittings.

The fiscal plan of the State for next year already passed first reading in mid-November with the votes of 116 Members of the Parliament.

Budget 2014 provides for an increase in the minimum monthly wage - from BGN 310 now to BGN 340 from January on. The assistance to mothers raising small children, 2 years and younger, is going up as well, from BGN 240 to BGN 310. Raising retirement pensions will also become a reality in June next year.

The fiscal plan further includes a 10% reduction of subsidies for political parties. Thus, they will receive annually BGN 10.8 per vote cast instead of BGN 12, as it is now.

Furthermore, between the first and second reading, the government surprisingly decided to introduce a 20% tax for "green" energy companies producing electricity from sun and wind. Thus, the Treasury will receive an additional BGN 160 M. However, the funds will not be spent, but will be directed to the fiscal reserve.

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Tags: state budget, parliament, first reading, final, minimum monthly wage, retirement pensions, assistance, mothers, subsidies for political parties, green energy, fiscal reserve
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