What Do the Public, Employers and Trade Unions Expect from the 2027 Budget?

How do members of the public, businesses and trade unions view the proposals set out in next year's financial framework?

The government has pledged stronger family and social support, alongside increases in incomes. Although members of the public hope these promises will be delivered, they remain sceptical.

• 2027 Budget: Higher Revenue and Spending, New Borrowing and Cuts to Public Administration

‘I don't think it will be enough. €450 for a child, when you are expected to raise them properly and provide suitable living conditions, might last two weeks, perhaps two and a half at most.’

‘The country is not moving forward, and there is no way it can. I'm not optimistic.

There is no way this can be achieved – Pandora's box has been opened.’

‘The recipe for tackling inflation and rising prices is to work as much as possible.’

‘Expectations are very positive – for people on low incomes, for pensioners too, and for child benefits. Most importantly, for children and the little ones.’

There are hopes that some of the former industrial enterprises could be revived, as in Blagoevgrad, where the economy has been devastated.

Businesses and trade unions, meanwhile, say they will wait for the final version of the draft budget, although the figures have come as no surprise. While business representatives described the proposed public sector reforms as a positive development, the Confederation of Labour Podkrepa (CL Podkrepa) says it is prepared to take strike action.

Atanas Katsarchev, chief economist at CL Podkrepa: ‘Our local structures are waiting to see what happens. I'm not going to speculate about what we will get. Once we receive the proposals, we will prepare our position and you will hear from us.’

Stanislav Popdonchev, deputy chairman of the Bulgarian Industrial Association (BIA) and chief financial officer: ‘It is positive if we are moving towards a deficit of 3%, and we hope to achieve a balanced budget at some point. We also see a reduction in budget expenditure, to just over €55 billion, while revenue is unfortunately also falling, to €51 billion. There are no increases in the main tax rates, which is also positive. However, the provisions for an excess profits tax remain, as does the increase in the minimum monthly insurable earnings threshold to €2,400.’

The Bulgarian Industrial Capital Association (BICA) hopes that cuts in the public sector will not affect services provided to members of the public and businesses.