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
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions. Expectations are high for increased tourist enrollment and institutional readiness.
Burgas Airport has announced plans to open new routes, boasting a total of 85 destinations from 25 countries for the upcoming season. Notably, there has been a 15% surge in enrollments from Great Britain.
Charter flights are scheduled to commence in May, further enhancing connectivity to the region. Minister Miloshev initiated a two-day tour along the Bulgarian Black Sea coast to assess readiness for the upcoming Summer 2024 season.
Expressing optimism based on current data, Minister Miloshev underscored the significance of sea tourism, which accounts for 70% of tourism in the country. The meeting in Burgas included participation from regional governors, mayors, and representatives of municipalities along the coast.
Minister Miloshev emphasized the importance of transparent communication and urged for collaboration among institutions to protect the tourism product and the interests of legally operating businesses.
Efforts to ensure the cleanliness and safety of beaches were highlighted, with regular seawater research and collaboration between relevant authorities. Additional medical staff and emergency teams will be deployed, particularly focusing on children's camps, while food safety measures will be rigorously enforced.
The National Revenue Agency (NRA) announced plans for inspections to combat violations such as failure to issue receipts, with additional police presence to ensure the safety and peace of vacationers during the tourist season.
Infrastructure improvements, including road repairs and enhancements to water supply systems, were also discussed, alongside measures to enhance beach safety through collaboration with concessionaires and volunteer lifeguards.
Representatives from various control bodies, including the Commission for Consumer Protection, the Bulgarian Food Safety Agency, and the National Revenue Agency, participated in the meeting. The series of working meetings will continue to assess readiness for the summer tourist season along the Northern Black Sea coast.
Bulgaria is expecting a boost in winter tourism this year, with about 3.1 million foreign visitors projected between December and March
Bulgaria is expecting a 5% increase in tourist arrivals this winter season, according to acting Minister of Tourism Evtim Miloshev
Tourist interest in Christmas and New Year holiday packages is exceptionally high this year
The heavy snowfall in recent days has created ideal conditions for an early start to the winter season in Bansko
In October, Bulgarians predominantly traveled to neighboring Turkey and Greece, while the largest groups of foreign visitors to Bulgaria came from Romania and Turkey
Airfares around the world are expected to rise in 2025, with ticket prices reflecting both higher operational costs and ongoing supply chain disruptions
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