Podcast in English
Text size
Bulgarian National Radio © 2024 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 chilly Sunday

Overnight it will be mostly clear. Winds will weaken and die down in many areas. In the morning it will be cold, with minimum temperatures between minus 7 and minus 2°C, reaching minus 10°C in the valleys and around minus 9°C in Sofia. Tomorrow will be..

published on 11/23/24 7:05 PM

Unit 6 of Kozloduy NPP connected to the national grid after annual maintenance

The planned annual maintenance of Unit 6 of Bulgaria's only NPP, Kozloduy, has been completed. The unit was connected to the national grid at 10:07 following an inspection by the Nuclear Regulatory Agency. In addition to the repairs made to improve..

published on 11/23/24 2:09 PM
Interim minister of the Interior Atanas Ilkov

Bulgaria's full Schengen membership will not open the floodgates to the EU, says Interior Minister

A quadripartite meeting of the interior ministers of Bulgaria, Hungary, Austria and Romania in Budapest on 22 November made it clear that Austria would lift its veto and that Bulgaria and Romania would probably become full members of Schengen from the..

published on 11/23/24 11:58 AM