Council of EU confirms excessive deficit procedure against Bulgaria

The Council of the European Union has confirmed the European Commission's proposal in early June to open an excessive deficit procedure against Bulgaria, recommending that the Bulgarian government take measures to control public spending, BTA has reported.

Bulgaria should ensure that the nominal growth rates of net government expenditure do not exceed 4.2% in 2026, 3.4% in 2027, 3.4% in 2028 and 3.2% in 2029, the Council of the EU recommends, specifying that in this way the country should overcome the excessive deficit situation by 2029. The deadline by which Bulgaria must take effective action and submit the necessary measures together with its draft financial plan for 2027 is 15 October 2026. The country must report on the progress made on the recommendation every six months.

Editor: Miglena Ivanova