The Bulgarian National Assembly finally approved the 2023 Budget

Politics | July 28, 2023, Friday // 09:38
Bulgaria: The Bulgarian National Assembly finally approved the 2023 Budget

The Bulgarian Parliament finally approved the 2023 Budget in a meeting that started at 9 a.m. yesterday and lasted almost 21 hours.

The financial framework is calculated at a deficit of three percent - on an accrual basis, with the preservation of a large part of the originally proposed capital program.

With the texts, funds are provided for the increase of remuneration in a number of ministries and other departments, such as the Ministry of the Interior, the National Tax Service, the National Institute of Social Security and others.

With the words: "Dear colleagues, good morning and happy budget", the Speaker of the Parliament Rosen Zhelyazkov closed the meeting, which lasted nearly 21 hours, and the Finance Minister Asen Vassilev ultimately expressed his satisfaction with the adopted texts.

"The budget is within the initially set parameters with a 3% deficit, with a serious capital program, with one redistribution from part of the capital expenditure to additional payment, which the parliament made, in the amount of about 300 million leva and in general with a large part of the fiscal measures preserved, so that the revenue can be collected”.

The salaries of employees in companies with a staff of more than 100 people will be paid by bank transfer. And other amendments were made directly in the Plenary Hall. Venko Sabrutev from WCC-DB explained about the payment account for basic operations: "No fees will be paid when they are at the expense of funds received from labor remuneration, pensions, benefits and benefits under social insurance and social assistance, scholarships for schoolchildren, students and doctoral students. The basic operations account is serviced free of charge”.

The MPs rejected the idea that a customer who did not receive a regular receipt in an establishment could leave without paying the bill, but left the 9 percent VAT rate for the restaurant industry until the end of the year. VAT-registered companies with cash balances over 50,000 leva will have to declare them every 3 months. Martin Dimitrov from WCC-DB said:

"Reducing the shadow economy, measures against the shadow economy, which is an important goal of both the government and the National Assembly, but also not to allow an excessive administrative burden for business".

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Tags: parliament, budget, deficit
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