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
In a bid to bolster border management and migration control, the European Commission (EC) has announced its decision to allocate 85 million euros to Bulgaria and Romania. This significant funding aims to fortify security measures at the European Union's external borders, with both countries eligible to seek additional financial support for enhancing existing border surveillance systems and acquiring essential equipment.
The EC's move comes in recognition of Bulgaria and Romania's successful implementation of projects geared towards expediting asylum procedures and facilitating the return of migrants lacking a valid reason to remain in the EU. This latest development underscores the commencement of preparations for the implementation of new European migration regulations.
With Bulgaria and Romania slated to enter the Schengen area with air and sea borders by the end of March, increased police cooperation between the two nations is anticipated. The Commission, in collaboration with Frontex, the EU Asylum Agency, and Europol, will closely monitor the progress of the outlined objectives.
Notably, the EC initiated pilot projects with Bulgaria and Romania last March, reporting tangible outcomes in October. EC President Ursula von der Leyen, in a post for "X," emphasized the deserving nature of Bulgaria and Romania for full accession to the Schengen area.
The substantial financial assistance provided by the EU underscores its commitment to bolstering border security and managing migration effectively, as Bulgaria and Romania continue their journey towards integration into the Schengen area.
European Defense Commissioner Andrius Kubilius has called for a significant increase in defense spending among EU member states, suggesting that nations allocate 3% of their GDP to military budgets
Austria has officially announced that it is lifting its veto on Bulgaria and Romania’s accession to the Schengen Area by land
The European Union (EU) and Mercosur countries have reached a landmark agreement to establish one of the world's largest trade deals
French President Emmanuel Macron has pledged to continue serving his full five-year term despite the political turmoil following the resignation of Prime Minister Michel Barnier after a no-confidence vote
European Defense Commissioner Andrius Kubilius warned that if the West fails to provide sufficient military support to Ukraine, Russia could seize the opportunity to target an EU country
French Prime Minister Michel Barnier is set to resign after his government was toppled by a no-confidence vote, marking the first such ousting in over six decades and just three months after taking office
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