Bulgaria: Parliament adopted the Update of the State Budget at First Reading

Politics | June 17, 2022, Friday // 08:09
Bulgaria: Bulgaria: Parliament adopted the Update of the State Budget at First Reading

Against the background of a protest in support of Nikola Minchev - the plenary hall adopted at first reading the update of the state budget, and thus the overall change in the financial framework.

What it includes - from July 1, new VAT rates will come into force, as for bread the tax will be zero, and for natural gas supplies - nine instead of 20 percent. On the other hand, the wine and beer served in the restaurants will have a 20 percent rate, not the reduced 9 percent during the pandemic.

The vote on the state budget also ensured the financing of the increase in pensions, which was approved yesterday by the plenary hall. The new financial framework is calculated with inflation of 11.9 percent and economic growth of 2.9 percent.

The most serious debate was caused by the increase of the debt limit to ten billion and 300 million levs. According to part of the opposition, the government is already late in withdrawing the money, as interest rates on government bonds are deteriorating daily. Deputy Prime Minister Asen Vassilev announced that our country will save about one percentage point if it withdraws three billion levs, which increases the limit this year, and not next year when it has to revolve existing debts.

The discussion on the budget passed relatively calmly and in an expert tone, but the request of Desislava Atanasova from GERB to convene an extraordinary meeting on Sunday caused tension in the hall. According to the chairman, Kristian Vigenin, it is inadmissible for it to be voted on at this moment and it should be officially entered today, Friday, June 17.

In this extraordinary Sunday session, Atanasova insists on discussing procedural rules for electing a new speaker of parliament and holding debates on the no-confidence vote tabled over the cabinet's financial policy.

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