Bulgaria State Budget Update - Yes or No?

Business | April 29, 2021, Thursday // 23:55
Bulgaria: Bulgaria State Budget Update - Yes or No?

The economic situation in Bulgaria and the world is not good, but this is mainly due to the coronavirus crisis. Whether an update of this year's budget is needed depends entirely on how the crisis develops.

This was commented to BNT by the chairman of the parliamentary Committee on Budget and Finance and MP from "Democratic Bulgaria" Georgi Ganev.

According to him, if there isn't next wave of infections, it is possible with prudent budget management, as set out in the current framework, to reach the end of the year.

If the ongoing BGN 50 grant for pensioners is stopped, the budget will not have to be revised. This burdens the budget with BGN 1.3 billion, Ganev added.

According to him, the economy has declined, but household consumption is holding a certain level.

"Tourism and transport are also experiencing serious difficulties.The state spends more because of anti-pandemic measures, most of it is due to increased salaries in the public sector and pensions and allowances, they burden the budget, "said the financial expert.

He specified that the initiative to change the budget should come from the Council of Ministers according to he Constitution.

If there is no such proposal, the budget law cannot be touched. Let's not forget that there is a plan to take out new loans, Ganev reminded and added that if Bulgaria ends up with a caretaker government, it will happen in mid-May.

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Tags: budget, Ganev, Georgi Ganev
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