PM Rumen Radev: Bulgaria Is Working to Reduce Its Budget Deficit for 2027 While Taking into Account the Impact on Social Sector and the Economy

Bulgaria is working to reduce its budget deficit for 2027, while taking into account the effects on the social sphere and the economy, Prime Minister Rumen Radev said at a meeting with Piotr Serafin, the European Commissioner for Budget, Anti-Fraud and Public Administration, the government press office announced on October 29.

The meeting took place on the eve of discussions on the EU’s Multiannual Financial Framework (MFF) for the 2028–2034 period.

The Prime Minister stressed that preserving the potential of the EU’s Cohesion Policy and Common Agricultural Policy remained a priority for Bulgaria, given their key role in ensuring the stability and competitiveness of the Union itself.

Rumen Radev also noted that the approach to determining the size and scope of new own resources for Member States needed to be carefully assessed, as these have a direct impact on national budgets.

Therefore, as part of the negotiations on the Multiannual Financial Framework (MFF), an in-depth and careful assessment of their impact is necessary, particularly for countries such as Bulgaria, which is currently subject to an excessive deficit. The Prime Minister stressed that Bulgaria is working to reduce its budget deficit for 2027 while taking into account the effects of fiscal policy on the social sphere and the economy.

The Prime Minister further noted that growing international uncertainty made it necessary to consider the need for increased defence funding.

Deputy Prime Minister and Finance Minister Galab Donev and Deputy Prime Minister Atanas Pekanov also attended the meeting.