Bulgaria's Caretaker Cabinet proposes this year's Budget to be Applied after the New Year
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Loading... - Jerome Ariti
- 25 Oct 2022
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“If a regular government is not formed, the official cabinet will propose that this year's budget be implemented after the New Year”. This was announced by the Caretaker Minister of Finance Rositsa Velkova during her hearing in the parliament, which takes place in two procedures - at the request of the Bulgarian Socialist Party and GERB-SDS, respectively.
The over-implementation in the treasury is currently under BGN 1 billion, announced Minister Velkova. According to her, this number should not bring optimism, because the biggest costs are ahead.
Because of the planned deficit, it is necessary to take out a new state debt, Velkova stressed:
"Issuing this debt that we have issued so far, the fiscal reserve as of September 30 is 12.1 billion. Based on all these commitments to the fiscal reserve, if we do not issue by the end of the year any more debt, the fiscal reserve as of December 31 would be about 5.6 billion, which is grossly insufficient, because you know that its minimum amount is 4.5 billion, and we have to take over the pension payments at the beginning of January".
Rositsa Velkova presented the basic budget prepared by the ministry for next year, but emphasized that the official cabinet has no right to make policies, therefore it keeps the existing ones. Read More...
