Caretaker government approved draft state budget for 2025

The caretaker cabinet approved the 2025 state budget bill and the draft budgets of the National Health Insurance Fund and the public social insurance system.

The Bulgarian National Bank (BNB) has strongly opposed the draft budget for 2025, warning that it could endanger the country's adoption of the euro. The central bank expressed concerns that the proposed budget may create risks for the fulfillment of the Maastricht criteria, particularly those related to budget deficit and price stability.

According to the BNB, the sharp increase in current budget expenditures increases the likelihood of higher tax and social security contributions for businesses and households.

Caretaker Prime Minister, Dimitar Glavchev, emphasized that the government is prepared to withdraw the draft budget if the Parliament exceeds the 3% budget deficit, a critical threshold for Bulgaria's entry into the Eurozone.

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