Bulgarians Join Balkan Protest Against Soaring Food Prices
Bulgaria has joined Croatia, Bosnia and Herzegovina, and Montenegro in organizing protests against rising food prices
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry by the end of January, according to former Finance Minister Lyudmila Petkova. She made the announcement during a visit to the Ministry of Finance following the official handover ceremony for the newly formed government.
Petkova, who will continue serving as deputy to the new Finance Minister Temenuzhka Petkova, emphasized that the new leadership is inheriting stable public finances. She highlighted that the state budget for 2024 is designed to meet the 3% deficit target. Additionally, the recently adopted Law on the Collection of Revenues and Execution of Expenditures provides a solid framework for managing state finances.
The former minister expressed optimism about the smooth transition, noting that a presidential decree related to the law's implementation is expected soon. This step is anticipated to ensure stability and reassure the public. She also reaffirmed that salaries and pensions remain top priorities, with guarantees that they will be paid fully and on time as stipulated by law.
Bulgaria has the lowest minimum wage among the European Union member states as of January 2025, standing at 551 euros
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Economists have urged Bulgaria’s leadership to submit an application to the European Commission and the European Central Bank for an extraordinary convergence report on joining the eurozone
Representatives of Bulgaria’s ruling coalition have once again highlighted a significant deficit in the state budget, with Stanislav Balabanov from "There Is Such a People" (TISP) stating that 2025 will be a transitional year regarding the eurozone
Valeri Belchev, former acting Minister of Finance, recently expressed strong concerns about Bulgaria's financial management, particularly focusing on the lack of proper budget management tools
Kalin Hristov, former deputy governor of the Bulgarian National Bank and former finance minister, expressed concern over the public discourse on key economic issues
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