Government says state spending for the year will have deficit of over 3 percent

The deficit set in the draft state budget for 2026 will be over 3%, Prime Minister Rumen Radev announced at the beginning of the government meeting. Later on June 24, Finance Minister Galab Donev will present the main parameters of the budget.

The main challenge facing the government is not the size of the deficit itself, but changing the budgeting model imposed in recent years characterised by a record increase in public spending and stimulating domestic consumption by increasing incomes, Radev said. According to the prime minister, in recent years, significant financial commitments have been accumulated without secured financing, some of which are related to municipal projects, road infrastructure and various state activities, BTA reports.

Editor: Ivo Ivanov