Bulgaria's Finance Minister presented budget for 2023

The budget deficit to be set down in budget 2023 will be 3% on an accrual basis. In the words of Finance Minister Assen Vassilev, that means a deficit of 4.5 billion Leva (euro 2.31 bn.). Minister Vassilev presented the main parameters of the draft budget for the year, to be submitted to the National Assembly at the beginning of July.

Before that, during the forum of the National Association of Pamporovo Municipalities, PM Nikolay Denkov announced that there will be a tangible increase in the funding for municipalities – by almost 25% - in the regular budget for this year. Because of the flooding and the damages inflicted, the disaster fund has been increased, from the EUR 40 million set down in the draft budget of the caretaker cabinet, to EUR 65 million. Around EUR 30 million of this money has so far been spent, which means that with the new sum set down, there will be around EUR 35 million available, plus possible buffers, if the need arises.

To come into effect as of 1 August, the budget needs to be adopted by the end of July.