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 final meeting of the current Council of Ministers, resigned Prime Minister Nikolai Denkov expressed gratitude to all cabinet ministers and provided an overview of the government's accomplishments. Despite facing a complex pre-election political landscape, Denkov commended ministers for maintaining productivity and making crucial decisions throughout the extraordinary tenth month of their tenure.
Addressing the ministers, Denkov highlighted the government's resilience in maintaining normal operations amid challenging circumstances. He emphasized the importance of their efforts in ensuring the continuity of governance and addressing the needs of citizens and businesses during this period.
During his report on the government's activities over the additional tenth month, Denkov underscored several notable achievements. These include Bulgaria's acceptance into the Schengen Agreement for air and water travel, with expectations for a decision regarding land borders by the year's end. Additionally, he mentioned advancements in the draft law on judicial power, which is currently open for public discussion.
Denkov also praised successes in the healthcare sector, citing improved access to cardiovascular medication for patients at reduced costs. He lauded the Ministry of Regional Development and Public Works for signing numerous agreements with municipalities for infrastructure projects totaling over BGN 1.7 billion.
"Patients can now receive the medication for free at the lowest price within any of the 50 groups for cardiovascular diseases. The remaining medications come at significantly reduced costs compared to before", he said.
Furthermore, Akad. Denkov announced the approval of measures to address salary disparities within the administration, allocating BGN 269 million for this purpose. These measures aim to narrow the gap between minimum and maximum salaries and increase average salaries across all administrative levels, effective from January 1, 2024.
Highlighting support for farmers, Denkov mentioned that over 46,000 small and medium-sized farmers received BGN 154 million under a redistributive support scheme for the 2023 campaign. He also praised the Ministry of Youth and Sports for successfully implementing a sports infrastructure program and initiating contracts worth nearly BGN 10 million for various projects across the country.
Concluding his address, Akad. Denkov assured a smooth transition to the next caretaker government, emphasizing the importance of continuity and stability in governance.
Kiril Petkov has officially submitted a waiver of his parliamentary immunity to the registry of the 51st National Assembly
President Rumen Radev has decided not to hold consultations on forming a government with the parliamentary group "DPS - New Beginning," led by Delyan Peevski
Representatives of "Democratic Bulgaria" (DB) and "We Continue the Change" (WCC) met with President Rumen Radev earlier today to discuss the formation of a new government
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
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