Bulgaria’s Parliament passed conclusively the 2021 Budget Act

Bulgaria’s Parliament on November 26 passed conclusively the 2021 Budget Act.

In the transitional and final provisions, Parliament today voted on child benefits and on tax breaks for childcare.

The law enters into force on January 1, 2021.

People with low incomes will continue to receive benefits for a child, as for one they will be from BGN 40, for two children - BGN 90, for three children - BGN 135, BGN 145 for 4 children. The amount will be raised by BGN 20 for each subsequent child in the family.

All parents will be entitled to tax relief.

For one child they will be from BGN 450, for 2 children - BGN 900, for 3 children - BGN 1,350. So far, the tax relief for one child was BGN 20.

Today it was accepted that next year all children from 1st and 8th grade will receive a one-time allowance of BGN 300. There are conditions for the child not to have five unjustified absences from classes for a period of a month, because then the assistance will be given back.

The minimum wage becomes BGN 650

Finance Minister Kiril Ananiev described the budget as an adequate economic response to ensure financial stability.

Kiril Ananiev, Minister of Finance: A majority of the views of all of us on the financial framework for next year have found a place in the Law on the State Budget of the Republic of Bulgaria for 2021, conclusively adopted by the Parliament. We all understand that we need to meet the challenges of COVID-19. We know about people's concerns about health, we also know about the concerns of businesses affected by the crisis. This budget does not serve party interests, but is entirely focused on the national interest.

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