BULGARIAN PARLIAMENT PASSED 2017 BUDGET AT SECOND READING

On 1st of December, the Bulgarian Parliament passed the 2017 Budget Act at second reading.

Economic growth is forecast at 2.5%.

The budget deficit target in 2017 is set at 1.4 % of the gross domestic product (GDP).

The budget envisions possibility for a new debt of up to 1.2 billion BGN and increase of pensions by 2.4% as of 2nd of July.

The MPs did not approve the proposal for 10 milion BGN increase in the budget of the Bulgarian Academy of Sciences. Thus, the Academy will receive additional 5 million BGN, as initially envisaged.

The minimum wage is envisioned to increase to 460 BGN as of 1st of January.

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