Budget for 2025 will not include wage cuts and tax increases

A new draft law on the state budget for 2025 will be submitted to the Council of Ministers by 14 February, along with draft laws on the budget of the National Health Insurance Fund and the State Social Insurance Fund. This was promised by Finance Minister Temenuzhka Petkova at the meeting of the Joint Governance Council. According to the Finance Ministry's analysis, the state budget deficit for the first quarter of 2025 will be around BGN 3.634 bn.  (EUR 1.858 billion).

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During the budget debate, the Council discussed the implementation of a number of measures to combat the grey economy and agreed not to cut public sector wages and social benefits and not to raise taxes. Bulgaria's entry into the euro area remains a priority.