After GERB-UDF and WCC-DB meeting in the Ministry of Finance: Draft state budget should be updated to fit the limit of 3% deficit

Representatives of GERB-UDF and “We Continue the Change – Democratic Bulgaria” (WCC-DB) on April 27 held a meeting at the Finance Ministry to discuss the draft state budget.

Assen Vassilev of WCC-DB said that he had a lot of reservations. “We will receive detailed information from the Ministry of Finance next week on both the revenue and expenditure side. Then we will discuss an option that seems quite realistic – 3% deficit,” he said and added:

"This will most likely happen after this draft budget with a 6.4% deficit is rejected at first reading, then the texts get adjusted by the ministry and tabled with 3% deficit and specific policies that Parliament would pass. At this stage, the sizes of social spending, wages and taxes are not touched."

"We have asked for detailed information to be provided to us on capital expenditure and the cost of living and dividends, as well as the possibility of charging a 100% dividend, taking into account the risks to the energy company Bulgarian Energy Holding accordingly, to ensure its financial security and to guarantee the country's energy security, as the company is of particular importance to the Bulgarian economy. We hope to receive information on the issues raised as soon as possible, to analyse it and to look for options for the budget to fit within the 3% deficit," said Temenuzhka Petkova of GERB-UDF.

She reiterated that for GERB the main priority remains Bulgaria's accession to the eurozone, but for that the criteria must be met and one of them is precisely the 3% deficit.