Bulgaria's Draft Budget for 2025: 3% Deficit, State Debt Growth, and Key Tax Changes
The Bulgarian Ministry of Finance has unveiled the draft budget for 2025, alongside the updated medium-term fiscal forecast covering 2025 to 2028
President Rumen Radev of Bulgaria has issued a stern warning to Parliament, urging a check on the Finance Minister's actions and threatening a potential veto of the 2024 state budget bill if necessary measures aren't taken. Speaking in Burgas, Radev highlighted concerns about the series of financial experiments unfolding in the country's finance sector.
A key issue raised by Radev was the financial condition of the state-owned gas transmission company Bulgartransgas. He expressed alarm over its mounting debt, totaling BGN 260 million in a month, emphasizing that the company had made no contributions to the public purse.
The president's stance against a newly implemented fee of BGN 20/MWh for Russian gas imports remained steadfast. He warned that this fee could plunge the Bulgarian operator into a crisis and strain relations with European countries reliant on Russian gas via Bulgaria. Radev has already contested the constitutionality of this fee before the Constitutional Court.
Radev also condemned plans by the Finance Minister to sell 70,000 ha of state-owned arable land for BGN 340 million, labeling it "inadmissible." He emphasized that this land is a strategic resource vital for the country's interests and should not be compromised to address fiscal needs or compensate for financial shortcomings. He expressed concern that this move could open doors to potential misuse and urged politicians from all parties to halt this risky venture.
Furthermore, Radev criticized the government's handling of the winter crisis caused by severe weather conditions. Praising the efforts of various organizations and the Armed Forces, he highlighted their proactive response without waiting for directives from what he referred to as a "government in stupor."
During consultations with President Rumen Radev, the representatives of "We Continue the Change - Democratic Bulgaria" (WCC-DB) were reminded of the significant responsibility they bear as the second-largest political force in the National Assembly
The leader of GERB, Boyko Borissov, has stated that if Bulgaria is to have a strong government, he should be the next prime minister
"We Continue the Change" (WCC) has issued a statement regarding the decisions made during their recent National Council meeting
The Ministry of Foreign Affairs (MFA) of Bulgaria has announced ongoing efforts to secure safe departure options for Bulgarian citizens currently residing in Syria and wishing to leave
Acting Prosecutor General Borislav Sarafov has submitted a request to the 51st National Assembly to lift the parliamentary immunity of MP Kiril Petkov
President Rumen Radev will begin consultations with parliamentary groups in the 51st National Assembly on December 10, according to the press office of the President.
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