Bulgarian Parliament to Discuss 2016 Draft Budget at Extraordinary Sitting

Business | December 1, 2015, Tuesday // 08:13
Bulgaria: Bulgarian Parliament to Discuss 2016 Draft Budget at Extraordinary Sitting The plenary chamber of the Bulgarian Nationa Assembly. Photo: BGNES

The Bulgarian parliament will discuss the draft government budget for next year at an extraordinary plenary sitting on Tuesday.

Prior to the draft government budget, the MPs will first discuss and adopt at second reading the budgets of the National Health Insurance Fund (NZOK) and the National Social Security Institute (NOI).

Among the foreseen changes are increase of child benefits paid for first child by BGN 2, increase of the minimum working wage from BGN 380 to BGN 420 and increase of retirement age by two months.

The 2016 budget foresees a deficit of 2 %, economic growth of 2.1 %, maximum amount of new government debt not exceeding BGN 5.3 B.

The parliamentary Budget and Finance Committee approved the draft government budget as well as the budgets of the State Social Insurance and NZOK on Monday.

NOI foresees indexation of pensions by 2.5 % from the middle of next year.

More families will be entitled to child benefits, with the monthly payment for first child rising from BGN 35 to BGN 37.

Child benefits for two children will be BGN 85 per month, those for three will be BGN 130, while the payments for four will be BGN 140.

The proposed budget of NZOK amounts to BGN 3.2 B, which is an increase of BGN 129 M compared to this year's one.

The MPs fulfilled their promise and dropped the proposed cuts to the social benefits of police officers, which had been the cause of large-scale police protests across the country in November.

The protest of museum, gallery and library workers led to the allocation of additional BGN 10 M to their salaries.

More funds will be allocated to healthcare, education and security, with BGN 3.1 B going to education and BGN 3.3 B to defence and security.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: Bulgaria, budget, NOI, NZOK, benefits, wage, Retirement, pensions, deficit, debt, healthcare, education, security
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria