The Ministry of Finance published the draft State Budget late last night. The deficit is expected to vary between 2.2 and 3% by 2028, with expenditures up to 40 percent of GDP.
The projected increase in salaries in the state administration has been reduced - from 10 to 5%. The exceptions are the Ministry of Interior, the military and education.
It is also planned to increase the social security contribution to the "Pensions" fund from 2027 by 1 percentage point. There will also be an increase in 2028 in the same amount. This year and next year, the contribution remains unchanged.
The planned expenditures under the consolidated fiscal program are BGN 96.7 billion or 44.9 percent of GDP. The budget balance is a deficit of BGN 6.4 billion or exactly 3 percent of GDP. This is also one of the criteria for Bulgaria to apply for membership in the eurozone.