BGN 100 Million Budget for the Elections in Bulgaria

Politics | April 9, 2024, Tuesday // 12:02
Bulgaria: BGN 100 Million Budget for the Elections in Bulgaria

The new acting finance minister, Lyudmila Petkova, unveiled the budget for the upcoming elections, which amounts to BGN 100 million. Petkova, who was welcomed to the finance ministry by her colleague Asen Vassilev, emphasized that organizing the elections is a top priority for her, alongside Bulgaria's goals of entering the Eurozone, the OECD, and the Schengen area by land routes.

Having previously served as deputy finance minister responsible for revenues and the budget, Petkova accepted Dimitar Glavchev's proposal to take up the position of finance minister. She highlighted the importance of two main bills in the financial sphere: the law on the euro, currently open for public discussion, and the law on the establishment of a single revenue agency.

Petkova reassured that despite the merger of the National Revenue Agency (NRA) and customs into a single revenue agency, no job cuts are foreseen. She emphasized the commitment to finding alternative positions for employees affected by changes resulting from Bulgaria's entry into the Schengen area.

Meanwhile, former finance minister Asen Vassilev expressed confidence in Petkova's capabilities, announcing his departure from the ministry. He disclosed that the fiscal reserve currently holds nearly BGN 10 billion, sufficient for the department's normal operations. Vassilev also noted that revenues collected by the NRA exceeded expectations by 50%, although customs revenues were impacted by reduced operations at Lukoil.

Responding to inquiries about recent events at customs, Vassilev downplayed concerns, stating that public information does not portray the situation accurately. Petkova, who previously served as the director of customs, refrained from elaborating further due to an ongoing investigation.

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Tags: finance minister, budget, elections, Bulgaria

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