Progressive Bulgaria proposes budget savings measures, higher debt ceiling

The parliamentary group of Progressive Bulgaria has proposed a package of measures aimed at reducing budget spending and increasing fiscal flexibility under the extension law for the state budget, BTA reported.

The proposals, developed jointly with the Finance Ministry, include cutting state subsidies for political parties from 4.09 euros to 3 euros per valid vote, retroactive to April 30, and raising the state debt ceiling to 3.8 billion euros. Part of the additional borrowing would be used to meet commitments under Bulgaria's Recovery and Resilience Plan. The package also includes changes to COVID-related pension supplements.

Stefan Belchev, a lawmaker from Progressive Bulgaria, said the state budget law would be adopted and promulgated by the end of August.

Editor: Miglena Ivanova