Prime Minister Rosen Zhelyazkov admitted that he does not consider the draft state budget for 2026 to be a good one, yet described it as the only feasible option under the current geopolitical and domestic circumstances. Speaking at the beginning of the government’s session, Zhelyazkov said that the document, which will be submitted to the National Assembly today, reflects the limits of what can be achieved in the present environment.

“Generally speaking, if you ask me whether the budget is good, my answer is no. If you ask whether it is bad, every social, political or economic group will tell you yes. But the real question is whether another budget is possible. I am convinced that no one would say a different one could be achieved in this geopolitical and national-political situation,” the Prime Minister stated.

The government will present to parliament the draft laws on the budgets of the National Health Insurance Fund, the State Social Insurance, and the state budget. These financial frameworks were not discussed in the National Council for Tripartite Cooperation after its meetings were canceled twice. Employer representatives boycotted the sessions in protest against several measures in the draft, including higher social security contributions and a doubled dividend tax.

Despite the wide-ranging criticism, Zhelyazkov defended the proposal as the only realistic path forward. He described it as a “coalition budget” that does not adhere strictly to any ideological framework. “This is neither a left-wing nor a right-wing budget, neither liberal nor conservative. It does not create policies but follows those already embedded in Bulgarian legislation,” he explained.

According to him, political and social groups criticize the draft from opposing perspectives - some claiming it lacks reforms, others that it includes too many from recent years which are not sufficiently addressed in the current plan. He argued, however, that the current context is not conducive to major reforms. “Now is not the time for reforms. 2026 will be the year when I am sure we will talk about reforms with the social partners,” Zhelyazkov said, adding that the following year’s public debate will determine whether society is ready to bear the cost of such reforms.

The Prime Minister also highlighted that, although the Tripartite Council did not meet, discussions with employers and trade unions still took place. “We maintained the social dialogue outside the formal format. We heard the arguments, the opinions, and the criticism,” Zhelyazkov concluded.