site.btaFinance Minister Warns of Risks from Increase of Minimum Pension and Scrapping the Flat Tax

Finance Minister Warns of Risks from Increase of  Minimum Pension and Scrapping
the Flat Tax

Sofia, November 16 (BTA) - Bulgarian Finance Minister Vladislav Goranov warned Wednesday of the risks from increasing the minimum pension and scrapping the flat tax, as demanded by the United Patriots and the Bulgarian Socialist Party, respectively.

He said that raising the minimum pension to 300 leva would bring about a loss of 1.5 billion leva for the national budget, while the loss from replacing the flat tax of 10 per cent with a progressive tax would be 1.236 billion leva.

The minimum pension currently stands at just over 160 leva, or some 80 euro.

The United Patriots and the Socialist party put forward their demands ahead of the parliamentary debate on the 2017 national budget bill moved by the government of Prime Minister Biyko Borissov.