Bulgaria’s Budget 2025: Key Announcements and Priorities
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Bulgaria’s budget for 2025 is set to be finalized next week, as announced by Social Minister Borislav Gutsanov during a recent event in Burgas. The minister emphasized that the general program for the country’s management will be ready with specific priorities outlined.
Gutsanov assured that there will be no tax increases or fee hikes, and there will be no reduction in funds allocated for social benefits in the upcoming budget. This assurance comes in response to requests from trade unions to increase funds for food vouchers, which will be discussed in upcoming meetings with the unions.
Restricted food mark-ups were highlighted by Gutsanov as a critical issue. He noted that the price of a product can increase nearly tenfold from the manufacturer to the store, underscoring the need for regulatory measures to control these mark-ups.
The minister also pointed out that budget holes can be filled by targeting the “grey sector”. He stressed the importance of the National revenue Agency (NRA) and customs in this effort, stating that their cooperation is essential to prevent a sharp decline in state revenue and GDP.
in related news, National Assembly Chairman Natalia Kiselova announced that the nomination procedures for various regulators are expected to be on the parliament’s agenda next week. She noted that several bodies, such as the Dossier Commission, have been expired since 2017 and need to be addressed urgently.
regarding the proposal to ban the sale of e-cigarettes, Kiselova emphasized the need to first assess how current controls are being exercised to prevent the sale of such devices to minors. The Health Committee will consider the bill, taking into account both parental and authoritative controls.
Key Points Summary
| Aspect | Details |
|——————————|——————————————————————————|
| Budget Finalization | Expected next week with specific priorities outlined |
| Tax and Fee Changes | no tax increases or fee hikes; no reduction in social benefit funds |
| Food Mark-ups | Restricted food mark-ups to control price inflation |
| Gray Sector Targeting | Budget holes to be filled by targeting the gray sector |
| Regulator Nominations | Nomination procedures for expired bodies like the Dossier Commission to be addressed |
| E-cigarette Ban | Bill to be considered by the Health Committee after assessing current controls |
Engaging with the Budget Process
As the budget for 2025 takes shape, it is crucial for citizens and stakeholders to stay informed and engaged.The upcoming meetings with trade unions and the parliamentary agenda will play significant roles in shaping the future financial landscape of Bulgaria.
For more insights into the budget process and related economic policies, visit the Ministry of Finance’s official website and stay tuned for updates from the National Assembly.
Stay informed and engaged with the latest developments in Bulgaria’s budget and economic policies.
Bulgaria’s Budget for 2025 is Set to be Finalized Next Week
Bulgaria’s budget for 2025 is set to be finalized next week, as announced by Social Minister Borislav Gutsanov during a recent event in Burgas. The minister emphasized that the general programme for the country’s management will be ready with specific priorities outlined. Gutsanov assured that there will be no tax increases or fee hikes, and there will be no reduction in funds allocated for social benefits in the upcoming budget. This assurance comes in response to requests from trade unions to increase funds for food vouchers, which will be discussed in upcoming meetings with the unions.
Interview with Dr. Ivan Petrov, Economic Specialist
Budget Finalization
Senior Editor: can you provide some insights into the expected timeline for Bulgaria’s 2025 budget finalization?
Dr. Ivan Petrov: According to recent announcements,the budget for 2025 is expected to be finalized next week. This comes after several months of discussions and negotiations, ensuring that all priorities are clearly outlined. The government is keen on making sure that the budget aligns with the country’s economic goals and social needs.
Tax and Fee Changes
Senior Editor: What can we expect regarding tax and fee changes in the upcoming budget?
Dr. Ivan Petrov: The minister has assured that there will be no tax increases or fee hikes. This is a meaningful move to support the economic stability of households and businesses. Additionally, there will be no reduction in funds allocated for social benefits, which is a positive step to ensure the continued support for vulnerable groups in society.
Food Mark-ups
Senior Editor: How is the government planning to address the issue of food mark-ups?
Dr. Ivan Petrov: The government is focusing on restricting food mark-ups to control price inflation. Minister Gutsanov highlighted that the price of a product can increase nearly tenfold from the manufacturer to the store. By implementing regulatory measures, the government aims to ensure fair pricing and reduce the burden on consumers.
Gray sector Targeting
Senior Editor: Can you elaborate on the government’s strategy to target the gray sector?
Dr. Ivan Petrov: The government plans to fill budget holes by targeting the gray sector. This involves increased cooperation between the National Revenue agency (NRA) and customs to prevent a sharp decline in state revenue and GDP. By addressing tax evasion and informal economic activities, the government can secure additional revenue streams.
Regulator Nominations
Senior Editor: What are the current plans for nominating new regulators?
Dr. Ivan Petrov: The National Assembly is expected to address the nomination procedures for various expired regulators next week. Several bodies, such as the Dossier Commission, have been expired since 2017 and need to be addressed urgently. This will ensure that regulatory functions are effectively carried out and that the country’s economic policies are well-regulated.
E-cigarette Ban
Senior Editor: What is the status of the proposed ban on e-cigarettes?
Dr. Ivan Petrov: The bill to ban the sale of e-cigarettes is expected to be considered by the Health Commitee after assessing current controls. The committee will evaluate how current regulations are being exercised to prevent the sale of such devices to minors.This assessment will take into account both parental and authoritative controls to ensure the bill’s effectiveness.
Engaging with the Budget process
As the budget for 2025 takes shape, it is indeed crucial for citizens and stakeholders to stay informed and engaged.the upcoming meetings with trade unions and the parliamentary agenda will play significant roles in shaping the future financial landscape of Bulgaria.
for more insights into the budget process and related economic policies, visit the Ministry of Finance’s official website and stay tuned for updates from the National Assembly.
Stay informed and engaged with the latest developments in Bulgaria’s budget and economic policies.
