Bulgaria's Eurozone accession was based on accurate data, says Finance Minister

The draft 2026 state budget will be submitted to the government for approval on July 1 and sent to parliament later the same day, Deputy Prime Minister and Finance Minister Galab Donev told BNT.

Donev said that the budget deficits accumulated during the 2021 to 2023 period were also the result of unpaid expenditures that had been carried over into subsequent years. According to him, the government is now accounting for a number of liabilities that have remained unpaid since 2023.

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He noted that the 2026 budget must include spending commitments of around €1.15 billion approved by the previous regular and caretaker governments, representing about 1 percentage point of the planned 5.7% budget deficit.

The finance minister also said that the government is considering asking Eurostat for guidance on how to account for more than €1 billion in unpaid liabilities at the Road Infrastructure Agency, as well as more than €1 billion in outstanding municipal project obligations. Together, these liabilities account for around 2% of the projected 2026 deficit.

The deputy prime minister stressed that Bulgaria had fulfilled all of its commitments related to joining the eurozone and that the data submitted to Eurostat had been accurate.

Donev also pledged that the new state budgets would not include any tax increases.

Edited by Ivo Ivanov