European Commission will open excessive deficit procedure for Bulgaria on June 3

The European Commission is launching a procedure due to Bulgaria’s excessive budget deficit - significantly above 3%. This means that from the beginning of June the country will be under monitoring and restrictive measures, and sanctions are also possible. This was announced by Prime Minister Rumen Radev at the beginning of the government meeting on May 29.

“The deficit for last year was well above 3%, not as they lied in order for us to enter the eurozone. This year it is expected to be even higher, so the bubble has burst,” Radev warned.

He criticized previous governments, saying they had been “learning to be financiers at our expense,” manipulating data, collecting taxes in advance, undercapitalizing state-owned companies, inflating expenses through overpriced public procurement, and looting public funds. “We will seek accountability for the thefts,” Radev stated firmly.

The government will agree for American tanker aircraft to remain in Bulgaria until the end of June, but not longer, as there has been no response from the United States regarding the lifting of visa requirements for Bulgarian citizens traveling to the US, the prime minister also said, BTA reported.

Edited by Ivo Ivanov