President Iotova Promulgates Bulgaria’s 2026 State Budget Despite Concerns Over Some Parameters

"Despite reservations regarding some of the budget’s parameters, I am promulgating the Law on the State Budget of the Republic of Bulgaria for 2026," said President Iliana Iotova on July 29.

“We Continue the Change” Submit a Petition to President Iotova Calling for Veto on the State Budget Law

Iliyana Iotova, President of Bulgaria: “Despite the objections raised regarding some of the budget's parameters, the presidential institution cannot allow further institutional and financial uncertainty for the state. I hereby promulgate the 2026 State Budget Act of the Republic of Bulgaria, as voted by the National Assembly."

According to Iotova, the presidency had received 69 submissions from political parties, trade unions and civic organisations between the budget's adoption in Parliament and the present moment. Four of these contained reasoned requests for the law to be returned for renewed debate, effectively demanding a veto. Each submission had been examined with great care, she said. The concerns relating to the budget deficit were understandable.

Iliiana Iotova, President of Bulgaria: "We are the only country in the EU operating under such financial conditions. Returning the law for further discussion would place the country's finances at even greater risk. No system, organisation, structure, company or business can currently adopt its own budget and carry out even basic, albeit limited, planning. Returning the budget would further paralyse the activities of municipalities, social payments, healthcare and education. Some of the most fundamental proposals have been left for the 2027 budget. I hope they will undergo an even more thorough analysis."

Iotova stressed that Bulgaria was still operating under the 2025 budget, which was prepared in Bulgarian lev, while the country adopted the euro as its new currency from 1 January.

Iliiana Iotova, President of Bulgaria: “For seven months, Bulgaria has been operating under a 2025 budget that has been extended twice, drafted and implemented in leva. And as of January 1, 2026, Bulgaria adopted the euro. More than €3 billion have not been paid out, while around €1 billion will not enter the revenue side of the budget because it has already been collected in advance. These €3 billion include projects with obligations from previous years, but which have not yet been paid for. The time has come to settle the old bills."