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Djankov stated that the recent developments in Greece and Italy suggest his country's budget could become even more conservative. Photo by BGNES
Bulgaria is the 4th fastest growing economy in the EU, the country's Finance Minister Simeon Djankov pointed out on Thursday, referring to the Economic Forecast of the European Commission unveiled earlier that day.
Even if there is a decline in Bulgaria's economy, which would be inevitable in case Western Europe goes into recession, Bulgaria's budget for 2012 would be sufficient, Djankov stated.
Speaking during a joint sitting of the economy and budget commissions in Bulgaria's Parliament, the Finance Minister explained that the draft budget for 2012 is conservative and is based to function with an economic growth of 1%.
However, Djankov stated that the recent developments in Greece and Italy suggest his country's budget could become even more conservative.
"Until recently, we believed the budget was conservative, but now it seems optimistic," Djankov commented on Thursday, as cited by the Dnevnik daily. He called on everyone to take into consideration what is happening in the European Union.
It will be announced next week whether changes with be made to Bulgaria's draft budget between its first and second readings in order for it to become more sustainable in case economic forecasts worsen, the Finance Minister also revealed.
A criminal network linked to Bulgaria has been accused of defrauding dozens of elderly people in northern Greece through an elaborate telephone scam that resulted in losses exceeding 600,000 euros, according to Kathimerini.
Italian authorities have launched an investigation into a large-scale scheme involving the illegal export of hazardous waste to Eastern Europe, with five Bulgarian nationals among those under scrutiny
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
Finance officials and the Bulgarian National Bank have issued a series of warnings about Bulgaria’s fiscal and economic outlook for 2026, highlighting rising pressure on public finances, slower growth, and higher inflation.
The United States is expanding shipments of liquefied natural gas to Southeast Europe and Ukraine via Greece, according to remarks by the US Ambassador to Athens, Kimberly Guilfoyle
Bulgaria’s economy has recorded growth of 3.1 percent, placing the country among the strongest performers within the European Union
The Ministry of Finance has released a broad public dataset covering more than 7,000 public procurement contracts with a combined value exceeding 30 billion euros
Caretaker Finance Minister Georgi Klisurski said he expects fuel prices at gas stations to ease in the coming period, pointing to a sharp decline in international oil markets
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
In the 2026 edition of the Index of Economic Freedom, compiled by the Heritage Foundation, Bulgaria is placed 38th out of 176 countries, positioned between Costa Rica and Oman
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