Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Tax Freedom Day in Bulgaria falls on 4 May 2018: Institute for Market Economics

| updated on 1/2/18 10:49 AM

We shall be working 4 months this year to fill up the state treasury, analysts from the Institute for Market Economics say. Every year they calculate how much Bulgarians have to pay for the services the state offers.

“This year Tax Freedom Day falls on 4 May. Taking that until then we will have worked to fill up the government coffers, afterwards we will be working only for our own selves, redistributing 36 percent revenues,” says Petar Ganev from the Institute for Market Economics.

“We are always somewhere around the 35, 36, 37 percent mark for redistribution, and adding European funding, the figure comes up to around 40 percent. But a discrepancy is observed between what goes into the budget and what happens at the end of the year.”

Economists talk of turning full circle from the adoption of the budget with a deficit, to a surplus at the end of the year. This is a practice that has to stop, says Petar Ganev:

“There is money in the budget. The question is how effectively we are spending it, as there will obviously be more money for the social systems. Around 500 million more for the health system, 500 million more for education. It is important whether this money is reaching more people.”



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Sunny but cold Sunday expected in Bulgaria

It will be cold with minimum temperatures between minus 14°C and minus 9°C, in places in the northeastern regions up to minus 16°C, for Sofia - around minus 9°C. On Sunday it will be mostly sunny. Before noon in some places in the plains and..

published on 2/22/25 6:24 PM

March marking the World Day of Rare Diseases takes place in Sofia

Relatives of patients suffering from rare diseases organized a march in Sofia on the occasion of the World Day of Rare Diseases. They call on the state to develop a National Plan for people with rare diseases. The march was attended by relatives and..

published on 2/22/25 6:16 PM

The Bulgarian Government strongly condemns desecration of EC building

The government strongly condemned the desecration of the European Commission building in Bulgaria in a Facebook post. "Attacks against institutions, whether national or European, are unacceptable and contradict the principles of the rule of law...

published on 2/22/25 4:31 PM