The budget committee in the parliament will consider the laws on the state budget and the budgets of the Health Fund and social security in the first reading. The budget plan provides for a record level of expenses and revenues, which exceed 40% of GDP, reports BNT.
However, the set budget deficit is within 6.4 billion leva or 3% of GDP. Thus, our country meets the requirements for entering the Eurozone. The main criticisms made by both unions and employers, as well as the fiscal council, are related to the overly ambitious revenue program.
A sharp jump in VAT revenue is expected, which, according to experts, is difficult to achieve. A large part of the increased spending is due to the increase in salaries in the defense and security and education sectors. An average increase of 5% is expected for the other budget sectors. According to the budget, the increase in pensions from July 1 will be according to the Swiss rule, or 8.6 percent. We will see what requests for changes the political groups will make later today.