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
UPDATE: The Dutch justice ministry just announced that they have given their approval for Bulgaria to join the Schengen area, marking the end of the Netherlands' prolonged resistance to this decision.
Bulgaria is eagerly anticipating a positive resolution regarding its Schengen enlargement bid, as Prime Minister Nikolai Denkov expressed confidence in the Netherlands' potential decision to lift the veto on Bulgaria and Romania's Schengen membership. Denkov shared this optimistic outlook during a press briefing in Brussels following the European Council's two-day meeting.
Denkov detailed the progression of efforts that have led to this pivotal moment, emphasizing Bulgaria's legislative advancements, the European Commission's closure of the Cooperation and Verification Mechanism, and the fruitful outcomes of the recent official missions involving Hague and Vienna officials. He underscored how these crucial steps paved the way for the imminent decision.
Highlighting ongoing discussions with Austria, Denkov stressed the significance of the Netherlands' positive stance in shaping the outcome. He emphasized the Dutch government's commitment to assessing compliance with rule-of-law recommendations, particularly in light of the favorable report following the EC's verification of mission findings.
Denkov's remarks shed light on the pivotal role of the Netherlands' decision and echoed the sentiment that without their approval, the collective efforts would be rendered futile.
President Rumen Radev echoed similar sentiments, expressing hope for the Netherlands' prompt endorsement of Bulgaria and Romania's Schengen entry.
Dutch Prime Minister Mark Rutte conveyed his anticipation of a forthcoming message by the day's end, following the European Council's conclusion in Brussels, as reported by Club Z. When questioned about the nature of the message, Rutte enigmatically responded, leaving the outcome undisclosed.
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