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Bulgarian Fiscal Reserve Update: 9.9 Billion BGN Reserves at End of March, Large Payments in April

“Reserve at the end of March 9.9 billion BGN. Large payments made at the beginning of April: 1.6 billion to BEH for the debt of “Toplofikatsia” and 1.5 billion for the payment of pensions in April. The expected tax revenues in April are BGN 3.9 billion and arrive on the 14th (VAT) and after the 25th (Personal Income Tax and Insurance). Because of this cyclicality, the reserve is always measured towards the end of the month. So at the end of April, expects it to be over BGN 9 billion again.”

This is how the former finance minister Asen Vassilev commented on Facebook the words of the current Lyudmila Petkova, who took office today.

She stated that according to BNB data, the fiscal reserve as of April 8 was BGN 6.689 billion.

The director of the Customs Agency was replaced

“It is hard for me to believe that Mrs. Petkova, who also receives the daily reports from the State Treasure Directorate, does not know these facts. I hope that they will not try to serve us a second series of “the state is bankrupt” and “we will die from the cold,” emphasized Vassilev.

The ministers from the “Glavchev” cabinet took power

Earlier today, Acting Deputy Prime Minister and Minister of Finance Lyudmila Petkova informed journalists that according to the data of the Bulgarian National Bank, the level of the fiscal reserve in accounts at the BNB and banks as of April 8 is BGN 6.7 billion. Of this amount, BGN 4 billion are the funds of the State Fund for Guaranteeing the Sustainability of the State Pension System, the so-called “Silver Fund”, and in fact the cash available is BGN 2.7 billion.

2024-04-09 19:17:24


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