Bulgarian Minister of Finance: This year's Budget may End with even a small Surplus

Business » FINANCE | December 2, 2021, Thursday // 10:54
Bulgaria: Bulgarian Minister of Finance: This year's Budget may End with even a small Surplus trud.bg

This year's budget could end in zero balance and even a small surplus, said Finance Minister Valeri Belchev in the column "Power speaks! Open." No new debt will be paid by the end of the year, Belchev added:

"The debt limit is set at 4.5 billion, so far we have withdrawn 3.8 billion. As the revenue side is going well, we do not plan to make additional issues by the end of the year."

According to Valeri Belchev, however, next year it will be necessary to issue a debt issue on the international markets. In 2022, our country will pay the already assumed debt of over 1 billion euros:

"Ultimately, the local market is relatively limited. We, as a country, at least need debt diversification. So, yes, if it's up to me, I would definitely plan an international show. "

For now, the Cabinet is working with the option of Budget 2022 with a deficit of 2.9% of gross domestic product. No increase in taxes is planned, said Valeri Belchev. He confirmed that the official cabinet proposes that the minimum pension be BGN 370 next year, but in order to prevent the income of pensioners with a minimum pension from falling, a supplement of BGN 60 is planned from January to June.

Belchev said yesterday that the government intends to adopt next year's budget in its main parameters by December 17, relying on parliament to vote on time and then the regular cabinet to "fill in" policies by updating the law.

Although in many key details, the Minister presented the parameters of the 2022 budget and said he was ready to speak in numbers.

"They will be the subject of debates, they will be the subject of internal party and inter-party wars. Let's lay the groundwork, let's talk about the budget. "

According to the announcement, next year there will be an increase in the minimum wage.

"You know that at BGN 650 per month, this is extremely insufficient to support a household. That is why we offer an increase of BGN 710. The political parties united around a similar figure - BGN 700. We plan to offer a little more. We believe that this is important for the population, "said Valeri Belchev.

With regard to pensions, the Ministry of Finance clarified that in September this year the parliament set the minimum amount of the pension for length of service and age from December 25 at BGN 370.

The baseline scenario includes estimates for the minimum pension for length of service and age in this amount, and from 1 July - an update in the amount under the Swiss rule.

Until June inclusive, a supplement of up to BGN 60 is also provided.

/BNR

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