There will be no increase in taxes or suspension of social payments, Minister of Labor and Social Policy Borislav Gutsanov said in an interview with public broadcaster BNT. Borislav Gutsanov stated that the Ministry of Labor and Social Policy will not be affected and people will not feel a lack of funds, despite the deficit (around EUR 9 billion). According to Minister Gutsanov, the largest gap in the state budget comes from the increase in pensions and salaries in the Ministry of Defense and the Ministry of the Interior, but these are decisions made by the National Assembly. "These people deserve higher incomes", Borislav Gutsanov clarified.
Borislav Gutsanov added that the Council of Ministers will decide whether to take money from the fiscal reserve, but even if such a step is taken, it will be very limited. At the moment, this fiscal reserve is about EUR 4.5 billion, and the minimum that must always be kept is just over EUR 2 billion, meaning "there is still a sufficient reserve", Minister Gutsanov explained. In his words, the draft state budget will be submitted to parliament by mid-February. There are plans on how to cover the 9 billion euro gap, Borislav Gutsanov commented. According to him, the decision not to request a convergence report for the euro area is not a mistake. In his words, it should be done once the real financial situation is established and a budget is adopted.
If we delay and do not reorganize and modernize our arms industry, in 5-6 years it will be exotic for the European arms market. This is a major challenge", said Bulgaria’s Minister of Defense Atanas Zapryanov during the discussion “The Hague 2025:..
In 2024, Bulgaria spent USD 2.208 billion (3.964 billion BGN), or 2.04% of its GDP, on defense, reads the annual report of NATO Secretary General Mark Rutte. For the first time, the country has met the NATO target set in 2014, which requires each..
A discussion on the potential reintroduction of religious education in Bulgarian schools was held at the National Palace of Culture in Sofia. The discussion was organized by the Ministry of Education and Science. Religions will be studied from a..
In 2024, Bulgaria spent USD 2.208 billion (3.964 billion BGN), or 2.04% of its GDP, on defense, reads the annual report of NATO Secretary General Mark..
Bulgaria’s Ambassador to the United States Georgi Panayotov has requested an early end to his term, the Ministry of Foreign Affairs announced. The..
The Israel Defense Forces (IDF) have admitted to mistakenly firing on a UN facility in central Gaza in March, killing an UN staffer, reported BTA...
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